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<Research>Citi: HSBC HOLDINGS Max. USD3B Shr Buyback Encouraging
Recommend 23 Positive 48 Negative 23 |
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HSBC HOLDINGS (00005.HK) announced its 1Q25 results at noon, with underlying PBT (excluding notable items) of USD9.8 billion, beating market expectations by 15%, Citi said in a report. The group's CET1R was 14.7% at the end of March, down 20 bps QoQ and 10 bps below consensus, but the group maintained its DPS of USD10 cents and up to USD3 billion in share buybacks (an encouraging size after a smaller buyback in the previous quarter). Citi said HSBC HOLDINGS’ overall results were strong, with good evidence of cost discipline and particularly good performance in wealth management and wholesale transaction banking, especially FX. The broker reiterated its Buy rating and GBP9.9 TP on London-listed HSBC (HSBA.UK). AAStocks Financial News |
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