Global banking giant
’s profit rose in the third quarter, as high interest rates continue to bolster bank earnings. The bank’s profit attributable to ordinary shareholders increased to about $5.6 billion in the three months through September. That fell just short of analysts’ expectations of a profit of $5.78 billion, according to a company-compiled consensus. Some highlights from Monday’s results: The bank expects to generate a net interest income of $35 billion this year. Its net interest income was over $9.
also maintained its $0.10 per share quarterly dividend. ’s Hong Kong-listed shares lost around 1.5% on Monday. They are still up around 18% this year, despite a drop in the wider market. The bank generates most of its income in Asia, particularly in Hong Kong, where it runs a big retail and commercial lending business. It also operates in mainland China, where it is set to acquire Citibank’s retail wealth-management portfolio.
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