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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Stock market today: Asian shares slip after S&P 500 slips ahead of Fed interest rate decisionAsian shares are mostly lower ahead of a Federal Reserve decision this week on interest rates.
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Stock market today: Asian shares slip after S&P 500 slips ahead of Fed interest rate decisionAsian shares are mostly lower ahead of a Federal Reserve decision this week on interest rates.
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This Day in History: Black Thursday marks start of stock market crashOn this day in 1929, nearly 13 million shares of stock were traded as Black Thursday hit Wall Street. The day is remembered as the start of the worst stock market crash in U.S. history and the beginning of the Great Depression. The stock market experienced rapid expansion in the 1920s, but by Aug.
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This Day in History: Black Thursday marks start of stock market crashOn this day in 1929, nearly 13 million shares of stock were traded as Black Thursday hit Wall Street. The day is remembered as the start of the worst stock market crash in U.S. history and the beginning of the Great Depression. The stock market experienced rapid expansion in the 1920s, but by Aug.
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