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HSBC's Pre-Tax Profit Edges Lower in Q1

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HSBC (HKG:0005) posted pre-tax profit of $9.38 billion for the first quarter, down from $9.48 billion a year earlier, according to a Tuesday Hong Kong bourse filing.

Profit attributable to ordinary shareholders edged higher to $6.94 billion from $6.93 billion a year ago, while the lender's earnings per share came in at $0.40, up from $0.39.

Net interest income rose to $8.95 billion from $8.30 billion in the prior-year period.

The board declared a first interim dividend of $0.10 per share for 2026, payable on June 26 to shareholders on record as of May 15.

HSBC said it now expects banking net interest income of around $46 billion in 2026, up from prior guidance of at least $45 billion.

It added that downside stress scenarios, including impacts from the Middle East conflict, could result in a mid- to high-single-digit percentage hit to profit before tax and potentially bring RoTE below its 17% target if unmitigated.

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