HSBC Holdings plc (HSBC) has released an update.
HSBC Holdings plc reported a strong start to 2024 with a profit of $12.7 billion in Q1, despite a slight decrease from the previous year. The quarter was marked by strategic divestitures in Canada and Argentina, allowing for an increased focus on high-value markets, and the announcement of $8.8 billion in dividends, including a special dividend from the Canada sale. HSBC reaffirmed its 2024 financial targets, including a mid-teens return on tangible equity and disciplined cost management.
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