HSBC 9-month Profit Rises

Asia-focused lender HSBC Holdings Plc (HSBC, HSBA.L) reported Monday that its 9-month reported profit before tax increased 12 percent to $16.63 billion from $14.86 billion a year ago.

Adjusted profit before tax was $18.33 billion, up 4 percent from $17.7 billion in the previous year.

Profit after tax was $12.93 billion versus $11.55 billion in the previous year.

Earnings per share were $0.55, higher than $0.50 in the year earlier.

Revenue for the period grew 5 percent to $41.1 billion from $39.1 billion last year.

Adjusted revenue rose 4 percent to $41.4 billion, excluding the effects of foreign currency translation differences and movements in significant items.

Capital base remained strong with a common equity tier 1 (‘CET1’) ratio of 14.3% and a CRD IV leverage ratio of 5.4%

Looking ahead, John Flint, Group Chief Executive said, ” We remain committed to growing profits, generating value for shareholders and improving the service we offer our customers around the world.”