LONDON (dpa-AFX) - Asia-focused lender HSBC Holdings Plc (HSBC, HSBA.L) reported Tuesday that its first-quarter profit attributable to the ordinary shareholders of the parent company surged to $3.88 billion from last year's $1.79 billion.
Reported profit before tax went up 79 percent to $5.8 billion. Adjusted profit before tax grew 109 percent to $6.4 billion.
Reported revenue declined 5 percent to $13.0 billion from prior year's $13.69 billion, due to the impact of 2020 interest rate reductions in all global businesses.
Net interest margin of 1.21 percent was down 33 basis points.
The company further said it will consider whether to announce an interim dividend at our 2021 half-year results in August.
Looking ahead, Noel Quinn, Group Chief Executive, said, 'We carry good momentum into the second quarter, while maintaining conservative positions on capital, funding, liquidity and credit.'
Copyright RTT News/dpa-AFX
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