By Tim Pemberton
1Q 2019 update
At a glance
Our international network, access to high-growth markets and balance sheet strength help us deliver long-term value for our stakeholders.
Our operating model consists of four global businesses and a Corporate Centre, supported by HSBC Operations, Services and Technology, and 11 global functions.
- Reported profit after tax was US$4.9bn, up 31% on 1Q18
- Adjusted revenue up 9.2% compared with 1Q18, with strong performances in our retail banking and commercial banking businesses. Reported revenue up 5%
- Slowed the pace of cost growth and delivered positive adjusted jaws of 6.0%, while still investing around US$1.0 billion in digital technology and efforts to grow the business
- Increased lending to customers by 7% to US$1 trillion compared with the same period last year
- Earnings per share of 21 cents, up 40%. Return on tangible equity was 10.6%, up considerably from 8.4% in 1Q18
Group Chief Executive
These are an encouraging set of results, particularly in the context of heightened economic uncertainty globally. We remain focused on executing the strategy we outlined last June, while also being alert to risks in the global economy.John Flint, HSBC Group Chief Executive
03 May 2019
Return on average tangible equity (% annualised):
Dividends declared (US$ per ordinary share):
Group Chief Financial Officer Ewen Stevenson says the bank’s performance in 1Q19 sets it up well for the rest of the year.
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