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HSBC HOLDINGS PLC - 3Q17 EARNINGS RELEASE – HIGHLIGHTS
Hamilton, Bermuda, October 30, 2017 - In a filing with The Bermuda Stock Exchange (“BSX”), HSBC Holdings plc (Ticker: HSBC.BH) release their Q3 2017 results. The filing stated:
Strategic execution
• Completed 71% of the buy-back announced in July 2017, at 26 October
• Further $13bn of RWA reductions in 3Q17, bringing the total reduction since the start of 2015 to $309bn
• Achieved annualised run-rate savings of $5.2bn since our investor update, and remain committed to delivering positive adjusted jaws for 2017
• Continue to make good progress with actions to deploy capital and invest:
- Delivered growth from our international network with a 7% increase in transaction banking product revenue and a 14% rise in revenue synergies between global businesses compared with 9M16
- Pivot to Asia generating returns and driving over 70% of Group adjusted profit in 9M17; 17% lending growth vs. 3Q16
- Lending growth in Guangdong of $1.1bn vs. 3Q16
- Maintained momentum in Asian Insurance and Asset Management, with annualised new business premiums and AuM up 13% and 17%, respectively, compared with 9M16
The full filing can be found using the following link: