HSBC Slips To Loss In Q4, Banking NII Rises; Sees Weak Banking NII In FY24

(RTTNews) - British lending major HSBC Holdings Plc (HSBA.L, HSBC) reported that its fourth-quarter loss attributable to ordinary shareholders was $153 million, compared to last year's profit of $4.38 billion.

Loss per share was $0.01, compared to profit of $0.22 a year ago.

On a pre-tax basis, the company recorded profit of $977 million in the quarter, down from $5.05 billion last year.

Revenue declined 11 percent to $13.02 billion from $14.65 billion in the prior year. Net interest income was down 7 percent to $8.28 billion, and non-NII was down 17 percent.

Banking NII was $10.7 billion, higher than $10.2 billion last year, benefited by higher central costs of funding trading income.

Looking ahead for fiscal 2024, the company expects Banking NII of at least $41 billion, lower than $44.1 billion recorded in fiscal 2023.

In Hong Kong, HSBC shares were trading at HK$63.30, up 1.04 percent.

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