- HSBC reported a marginal dip in pre-tax profits to $9.4 billion (£6.96 billion) for the first quarter, down from $9.5 billion a year prior.
- The decline was attributed to higher expected credit losses, other credit impairment charges, and increased operating expenses.
- Despite the profit dip, the bank's revenue climbed 6 per cent to $18.6 billion (£13.7 billion), driven by strong performance in wealth management and its Hong Kong business segment.
- HSBC agreed to pay approximately 300 million euros (£260.6 million) to French authorities to settle a dividend fraud case, concluding a probe into its trading activity between 2014 and 2019.
- The bank has committed to keeping its 327 UK branches open until at least 2027 and plans to invest £55.8 million in modernising its network next year.
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