Goldman Sachs: The basic profit before tax for the third quarter of HSBC Holdings (00005) fell short of the bank's expected net interest earnings performance and was slightly disappointing

The Zhitong Finance App learned that Goldman Sachs released a research report saying that the basic profit before tax for the third quarter of HSBC Holdings (00005) was lower than the bank's forecast, and the bank's net interest income performance was slightly disappointing.

HSBC Holdings' basic profit before tax for the third quarter was US$10 billion, 4% lower than the bank's expectations, but in line with market expectations. The bank's net interest income was 3% and 2% lower than the bank's and market forecasts, respectively, and the non-net interest income was 3% and 1% lower than the bank's and market expectations, respectively.

Goldman Sachs pointed out that the bank's net interest earnings performance was slightly disappointing. Despite rising interest rates and strong loan growth, competitive pressure on deposits in Hong Kong and the UK has intensified. The third quarter common equity Tier 1 capital ratio was 13.9%. The group announced that it would pay a third interim interest of 0.1 US dollars per share and initiated share repurchases of up to 1 billion US dollars, higher than the bank's forecast of 500 million US dollars.