Financial News
Written by: Huang Jie
2020-10-27 13:01
Last update date: 2020-10-27 13:02
HSBC Holdings (0005) announced its quarterly results at noon, and its benchmark pre-tax profit fell 36% in the third quarter.
The stock performed well in the afternoon, rising 4.34% to 33.65 yuan, with a turnover of 1.559 billion yuan.
HSBC's third-quarter accounting basis pre-tax profit was 3.074 billion (US$‧ the same below), a year-on-year decrease of 36.45%.
Adjusted profit before tax fell 21% to $4.3 billion.
Baseline revenue fell 11% to $11.9 billion.
When it comes to dividends, the group said that it will consider whether to pay a more conservative dividend in 2020 based on its 2020 performance and its forecast for 2021.
However, it is emphasized that whether to distribute dividends depends on the economic outlook at the beginning of 2021 and the results of consultation with regulatory agencies. It is expected that a final decision will be made in February 2021 and will be announced when the 2020 year-end results are released.
HSBC expects to also disclose the group's revised dividend policy for 2021 and beyond.
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