Cost Efficiency Measures Help HSBC Post $5.1 Billion Pretax Profit

Mani

Published onNovember 4, 2013

Updated on May 13, 2021

HSBC Holdings plc (ADR) (NYSE:HBC) (LON:HSBA)’s pretax profit rose to $5.1 billion in the three months ending in September, thanks to cost efficiency measures initiated by the bank.

Table of Contents

HSBC Holdings plc (ADR) (NYSE:HBC) (LON:HSBA)’s third-quarter earnings rose 10% from the period a year earlier.

Cost-cutting initiatives

During the third quarter, Britain’s largest bank was able to cut another $400 million in costs, bringing the total to $4.5 billion since the beginning of 2011.

HSBC Holdings plc (ADR) (NYSE:HBC) (LON:HSBA)’s core Tier 1 capital ratio also improved to 13.3%...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Cost Efficiency Measures Help HSBC Post $5.1 Billion Pretax Profit

Cost-cutting initiatives

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