City Of London
HSBC Shares Rise After Lender Announces $2 Billion Share Buyback
- Higher net interest income, accounting gains drive beat
- HSBC is due to hold its annual general meeting later this week
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HSBC Holdings Plc’s shares rose after the Asia-focused lender announced a fresh plan to return money to shareholders after reporting first-quarter results that beat estimates.
The London-headquartered bank will buy back as much as $2 billion of stock and also resume paying quarterly dividends for the first time since 2019, stepping up capital returns as it faces mounting pressure from one of its largest investors to boost profitability.