HSBC Holdings Plc offset a drop in third-quarter revenue with lower costs and litigation charges as Europe’s largest lender said it needs more time to determine whether to move its headquarters from London.
Operating costs fell 19 percent to $9 billion from a year earlier, London-based HSBC said in a statement on Monday. That beat the $9.4 billion estimate of 14 analysts in a company-compiled survey. Revenue slipped 4.4 percent to $15.1 billion, while pretax profit rose to $6.1 billion from $4.6 billion a year earlier.
More on the Dean’s interview on Bloomberg Television:
Dr. David Costa is the author of “The Art of Banking: Dominate the Banking Landscape” and lectures in the area of Investment Law and Money Management in our MBA, MA and LL.M programmes offered Online in an exclusive partnership between University of Cumbria and Robert Kennedy College. We have just started a new intake on these programmes and places are very limited so make sure to apply as soon as possible to secure your place.
