Key facts
- HSBC's third-quarter profits grew to $9.6 billion, a 32% increase year-on-year.
- The bank will distribute $2.7 billion to shareholders via dividends and share buybacks.
- Net interest income rose to $9.3 billion.
- 35% of UK homes are in postcode areas with falling house prices.
- A record 738,144 UK businesses are in significant financial distress.
HSBC's profits surged by 32% to $9.6 billion in the third quarter, driven by higher interest rates, lower loan losses, and reduced legal provisions. The bank announced it would return $2.7 billion to shareholders through dividends and share buybacks. This strong performance comes as UK Chancellor John Healey prepares his budget, with expectations of a potential tax hike on banks.