HSBC Profit Dips Despite Strong Wealth And Hong Kong Business Growth

LONDON, May 5 (Bernama-PA Media/dpa) -- HSBC's pre-tax profits fell marginally in the opening quarter, the lender said on Tuesday, reported PA Media/dpa.

The UK-based bank's quarterly profit before tax fell to US$9.4 billion, down from US$9.5 billion a year earlier. HSBC said the decrease reflected higher expected credit losses and other credit impairment charges, as well as a rise in operating expenses.

Revenue increased 6 per cent to US$18.6 billion compared with the opening quarter of 2025, driven by strong performance in wealth management and the Hong Kong business segment.

"We continued to make positive progress in creating a simple, more agile, growing HSBC," chief executive Georges Elhedery said.

"Each of our four businesses contributed to firm-wide revenue growth."

He added: "In periods of greater uncertainty, customers turn to us more as their trusted partner to navigate complexity with the financial strength, stability and expertise they know they can rely on."

"We remain confident in achieving the targets we set out in February 2026."

-- BERNAMA-PA MEDIA/dpa