{"id":98484,"date":"2026-05-05T09:17:19","date_gmt":"2026-05-05T09:17:19","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/98484\/"},"modified":"2026-05-05T09:17:19","modified_gmt":"2026-05-05T09:17:19","slug":"hsbc-profits-dip-amid-credit-fraud-charges-and-iran-war","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/98484\/","title":{"rendered":"HSBC profits dip amid credit fraud charges and Iran war"},"content":{"rendered":"\n

HSBC<\/a> has reported a marginal dip in its pre-tax profits for the first quarter of the year.<\/p>\n

The UK-headquartered lender saw profits before tax fall to $9.4 billion (\u00a36.96 billion), down from $9.5 billion (\u00a37 billion) a year earlier.<\/p>\n

The bank<\/a> attributed this decline to higher expected credit losses, other credit impairment charges, and a rise in operating expenses.<\/p>\n

However, HSBC<\/a>‘s revenue<\/a> climbed 6 per cent to $18.6 billion (\u00a313.7 billion) compared with the opening quarter of 2025.<\/p>\n

This growth was primarily driven by strong performance in its wealth management division and Hong Kong<\/a> business segment.<\/p>\n

\u201cWe continued to make positive progress in creating a simple, more agile, growing HSBC,\u201d chief executive Georges Elhedery said.<\/p>\n

\u201cEach of our four businesses contributed to firm-wide revenue growth and each delivered an annualised RoTE in excess of 17 per cent, excluding notable items.\u201d<\/p>\n

\"HSBC HSBC said revenue reached \u00a313.7 billion in the opening quarter of 2026 (Lucy North\/PA) (PA Archive) <\/p>\n

He added: \u201cIn periods of greater uncertainty, customers turn to us more as their trusted partner to navigate complexity with the financial strength, stability and expertise they know they can rely on.<\/p>\n

\u201cWe remain confident in achieving the targets we set out in February 2026.\u201d<\/p>\n

It was announced in early 2026 that HSBC<\/a> had agreed to pay around 300 million euros (\u00a3260.6 million) to French<\/a> authorities to settle a dividend fraud case, <\/a>as the bank also said it had won shareholder backing to buy out its Hong Kong<\/a>-listed business Hang Seng<\/a>.<\/p>\n

The banking giant previously said it was \u201cpleased to have resolved\u201d the issue after being investigated by French financial prosecutors.<\/p>\n

It brings an end to the probe into its trading activity between 2014 and 2019.<\/p>\n

Several large France-based banks have been under investigation over their alleged use of a scheme to avoid certain taxes linked to the payment of dividends.<\/p>\n

The bank<\/a> has guaranteed its 327 UK branches will remain open until at least 2027 while also boosting investment in its network by 30 per cent next year, <\/a>committing \u00a355.8 million in 2026, up from \u00a342 million in 2025.<\/p>\n

This funding is for refurbishing and modernising branches across the UK.<\/p>\n

This commitment builds on pledges made over the past two years, during which the bank promised no new branch closures until the end of this year.<\/a><\/p>\n

HSBC UK noted “robust” usage, with 825,000 customers visiting branches monthly and over two million transactions carried out via self-service machines.<\/p>\n","protected":false},"excerpt":{"rendered":"HSBC has reported a marginal dip in its pre-tax profits for the first quarter of the year. The…\n","protected":false},"author":2,"featured_media":98485,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3],"tags":[34479,34477,34478,34,34480,29340],"class_list":["post-98484","post","type-post","status-publish","format-standard","has-post-thumbnail","category-iran","tag-expected-credit-losses","tag-hsbc","tag-hsbc-uk","tag-iran","tag-pre-tax-profits","tag-revenue-growth"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116521221919635848","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/98484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=98484"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/98484\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/98485"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=98484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=98484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=98484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}