HSBC Third-Quarter Profit Jumps 32% as Favourable Rates Lift Earnings

HSBC reported a 32% rise in third-quarter profit, benefiting from favourable interest rates while avoiding large credit losses.

The results highlighted the support that the interest-rate environment has provided to the bank’s earnings. The absence of significant credit losses also helped underpin its quarterly performance.

However, a marked slowdown in the wealth management business tempered the strong profit growth, exposing a weaker spot in the bank’s results.

That contrast underscores the challenge facing HSBC as it seeks to sustain its recent strong performance, with momentum in wealth management lagging behind the broader earnings picture.