Europe’s largest bank, HSBC Holdings Plc, has announced a fresh share repurchase programme of up to $3 billion (€2.6 billion) for the first half of 2025 as it reported its first-quarter earnings results on Tuesday. HSBC shares rose by 2.28% as of 09:30 CEST in London.
However, the UK-based lender reported a pre-tax profit of $9.5 billion (€8.4 billion) for the first quarter, down 25% from a year earlier, despite beating the company-compiled estimate of $7.8 billion (€6.9 billion). The bank noted that the profit was driven by a strong performance in the Wealth business within its International Wealth and Premier Banking (IWPB) division, its Hong Kong operations, and the foreign exchange division.
