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2026-10-27 14:49:34 UBS issued a report stating that HSBC HOLDINGS (00005.HK)'s third-quarter pre-provision profit was 3% below market expectations, mainly dragged down by lower revenue. Among them, banking net interest income was 2% below expectations, while fee and other income also missed expectations by 1%. Operating expenses were in line with expectations. Impairment charges during the period were 21% below market expectations. Profit before tax met expectations. UBS noted that the group's common equity tier 1 capital ratio in the third quarter was 13.9%, 20 bps below expectations, mainly due to a 0.4 ppts decline in the common equity tier 1 capital ratio and a 1% increase in risk-weighted assets. The group announced a third interim dividend of USD0.1 per share, in line with expectations, and launched a share buyback of up to USD1 billion, also matching the broker's expectations. HSBC's 2026 guidance remained unchanged, including banking net interest income of at least USD46 billion, operating expenses growing about 1% based on the target benchmark to USD33.9 billion, expected credit loss provisions of about 45 bps, and maintaining the common equity tier 1 capital ratio within the 14% to 14.5% range. The broker maintained its 'Neutral' rating on HSBC HOLDINGS (00005.HK), with a TP of GBX1,501. (ad/j)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |