HSBC Beats Estimates as Loan Loss Expectations Pared Back
- HSBC says it’s considering paying a ‘conservative’ dividend
- Lender guides loan losses to be at lower end of expectations
This article is for subscribers only.
HSBC Holdings Plc beat profit estimates for the third quarter, delivering an upside surprise as it pared back expected credit losses and signaled it may resume limited dividend payments already for this year.
Adjusted pretax profit slid 21% to $4.3 billion in the period, beating the $2.8 billion estimate, the London-based bank said in a statement on Tuesday. HSBC said it expects credit losses to be at the lower end of a previously announced $8 billion to $13 billion range.