HSBC Finance (HSBA.L, HBC) Tuesday reported a profit for the first quarter versus a loss last year, helped by a significant reduction in provision for credit losses.
For the quarter, the company reported net income of $226 million versus a loss of $155 million last year.
On an IFRS basis, however, the company reported loss before tax of $137 million compared with a loss before tax of $716 million last year.
Underlying income from continuing operations before tax was $497 million versus a loss of $314 million last year.
Net interest income for the period was $394 million, down from $408 million a year earlier.
The company spent $24 million as provision for credit losses as opposed to $791 million last year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.