HSBC Holdings Plc (HSBC,HSBA.L), an Asia-focused lender, reported Thursday that its first-quarter profit before tax declined 19 percent to $4.96 billion from last year's $6.11 billion, primarily due to adverse movements in significant items.
Adjusted profit before tax was $5.94 billion, compared to $5.30 billion a year ago. The company noted that adjusted profit before tax grew in all three NAFTA countries.
Revenue for the quarter fell 13 percent to $12.99 billion from last year's $14.98 billion, primarily due to currency translation differences and the absence of fair value movements on own debt.
Adjusted revenue was $12.84 billion, up 2%. Adjusted profit and revenue both grew as the company's global businesses maintained their momentum from the end of 2016.
Further, the company said its Board announced a first interim dividend for 2017 of $0.10 per ordinary share.
Stuart Gulliver, Group Chief Executive, said, "This is a good set of results. The increase in adjusted profit was driven by strong performances in three of our four global businesses. Global Banking and Markets had a great quarter; Commercial Banking delivered higher revenue from our liquidity and cash management activities; and Retail Banking and Wealth Management was supported by rising interest rates and renewed customer investment appetite."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.