Financial News
Written by: Hu Xueneng
2020-04-28 12:09
Last update date: 2020-04-28 12:13HSBC Holdings (0005) announced the first quarter of this year's results, and its profit before tax fell 48% year-on-year to 3.2 billion yuan (US $. Same below). The decline mainly reflects the global impact of the new coronavirus outbreak and oil prices The impact of the decline. The market originally estimated that the global economy was hit hard by the new crown pneumonia epidemic, and the expected credit loss (ECL) of HSBC's provision has tripled year-on-year to 1.877 billion yuan. The final quarterly results show that the ECL has quadrupled to 3.026 billion yuan.
As the group announced earlier, it will not distribute the first interim dividend.
During the period, the return on tangible equity (ROTE) was 4.2%, which was 6.4 percentage points lower than 10.6% in the first quarter of last year, and 4.2 percentage points lower than 8.4% at the end of last year.
[Huikong Loss of Interest] The Group: The dividend policy will be reviewed again on or before the announcement of full-year results
Damco expects HSBC's credit losses to increase sharply during the year
Bank of America's HSBC Impairment Reserve increased by 1.4 billion U.S. dollars, including additional provisions for Xinglong's bad debts
HSBC's quarterly performance of HSBC
