SINGAPORE/LONDON :HSBC Holdings reported a better-than-expected 92 per cent surge in quarterly profit on Tuesday as rising interest rates swelled its net interest income, encouraging Europe's largest bank to reiterate it could meet a key performance target for this year.The bank said it intended to pay a spec
SINGAPORE/LONDON :HSBC Holdings reported a better-than-expected 92 per cent surge in quarterly profit on Tuesday as rising interest rates swelled its net interest income, encouraging Europe's largest bank to reiterate it could meet a key performance target for this year.
The bank said it intended to pay a special dividend of $0.21 per share, as a priority use of the proceeds from the $10 billion sale of its Canada business, once that disposal is complete late this year. The London-headquartered lender reported pretax earnings of $5.2 billion for the fourth quarter, up from $2.7 billion a year earlier and ahead of the $4.96 billion average estimate of analysts compiled by the bank.
"With the delivery of higher returns, we will have increased distribution capacity, and we will also consider a special dividend once the sale of HSBC Canada is completed," Group Chief Executive Noel Quinn said in a statement.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX Japan to allow asset withdrawals starting TuesdayTOKYO : The Japanese unit of failed cryptocurrency exchange FTX said on Monday it would allow customers to withdraw deposits of fiat currency and crypto assets beginning Tuesday after months of suspension. FTX Japan said its customers could withdraw assets through the website of Liquid Japan, a crypto exc
Read more »
China Renaissance shares extend loss after chairman goes missingShares of China Renaissance Holdings reversed early gains to fall as much as 5 per cent on Monday, following a record low hit in the previous session that was triggered by the boutique investment bank saying it could not contact its chairman.The Hong Kong-listed stock, which climbed as much as 3.5 per cen
Read more »
Insurer FWD Group to buy majority stake in Malaysia's Gibraltar BSNSINGAPORE : Insurance firm FWD Group Holdings Ltd said on Monday it had agreed to buy a majority stake in Malaysian insurer Gibraltar BSN Life Bhd for an undisclosed price, expanding its presence in the country's full-service insurance business.The Asia-focused insurer, which has been in Malaysia since 20
Read more »
Singapore 'strongly condemns' North Korea's latest missile testsSINGAPORE: Singapore on Tuesday (Feb 21) strongly condemned North Korea’s recent missile tests, calling it a “dangerous provocation” and a blatant violation of UN Security
Read more »
Jaguar Land Rover opens three European self-driving tech hubsLONDON : Luxury carmaker Jaguar Land Rover said on Tuesday it is opening three new engineering hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley artificial intelligence company Nvidia.The hubs in Munich, Bologna and Madrid will develop self-driving sy
Read more »