The bank's reported pre-tax profit came in at $5.4 billion in the third quarter of 2021 — beating expectations.
Meanwhile, reported revenue for the third quarter was $12 billion — 0.7% higher than a year ago. Analyst estimates compiled by HSBC had pointed to a 3.1% on-year increase in revenue to $12.3 billion.Net interest margin, a measure of lending profitability, was 1.19% — compared with 1.2% in the second quarter.
Basic earnings per share was 18 cents, compared with 17 cents in the second quarter and 7 cents in the third quarter of 2020. Ewen Stevenson, HSBC's group chief financial officer, said the bank's capital position has been "very strong." He said the bank wants to reduce its capital ratio to around 14% to 14.5% by the end of next year.
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