The HSBC building in Canary Wharf, London, UK
Leon Neal | AFP | Getty Images
HSBC is due to release its third-quarter financial report card at noon on Monday HK/Singapore time.
Analysts expect the Asia-focused bank to report another quarter gain in earnings as the global economy recovers from the recession caused by the Covid-19 pandemic.
HSBC’s reported pre-tax profit for the third quarter is expected to jump 22.8% year-on-year to $3.776 billion, according to analyst estimates compiled by the bank.
Revenue is expected to grow 3.1% year-on-year to $12.3 billion, according to estimates.
Jackson Wong, director of asset management at Amber Hill Capital, said investors will be looking forward to the bank’s announcement of its dividend and share buyback plans.
“There are a lot of things going on in the markets right now that they have to show their confidence in the future,” Wong told CNBC’s “Street Signs Asia” before HSBC’s earnings were released.
HSBC shares in Hong Kong fell about 0.3% in early trading on Monday.