HSBC is set to report third-quarter earnings today. Here’s what to expect
25 Oct 2021
HSBC building in the Canary Wharf district of London, U.K.
Leon Neal | AFP | Getty Images
HSBC is scheduled to release its financial report card for the third quarter at noon Hong Kong/Singapore time on Monday.
Analysts expect the Asia-focused bank to report another quarter of profit gains as the global economy recovers from a slump caused by the Covid-19 pandemic.
HSBC’s reported pre-tax profit for the third quarter is forecast to jump 22.8% on year to $3.776 billion, according to analyst estimates compiled by the bank.
Revenue is expected to grow by 3.1% on year to $12.3 billion, according to the estimates.
Investors will be looking forward to the bank’s announcement on dividends and plans for share buybacks, said Jackson Wong, asset management director at Amber Hill Capital.
“A lot of things are going on in the markets right now that they would have to show that they have confidence in the future,” Wong told CNBC’s “Street Signs Asia” ahead of HSBC’s earning release.
HSBC shares in Hong Kong were down by around 0.3% in early trade Monday.