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HSBC sounds Trump tariff alarm, taking shine off Q1 profit beat and buyback


Published on 2025-05-16 05:00:48 - Reuters
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    • HSBC warned that loan demand and credit quality could suffer from the broader fallout of U.S. President Donald Trump's global trade war, signalling tougher times for trade-focused banks even as the lender's first quarter profit beat forecasts.

HSBC reported a 25% decline in first-quarter profit on April 29, 2025, yet the results surpassed market expectations due to robust performance in its wealth business and higher interest rates. The bank's pre-tax profit reached $10.8 billion, exceeding the $10.1 billion anticipated by analysts. Despite the profit drop from the previous year's $14.4 billion, which was bolstered by a one-off gain from the sale of its French retail banking business, HSBC's CEO Noel Quinn expressed confidence in meeting the bank's full-year targets. The bank also announced a first interim dividend of $0.10 per share and a special dividend of $0.21 per share following the completion of the sale of its Canadian business.

Read the Full Reuters Article at:
[ [ https://www.reuters.com/business/finance/hsbc-books-25-fall-first-quarter-profit-beats-estimates-2025-04-29/ ] ]