HSBC signals rate rise profit windfall has peaked even as payouts rise

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HSBC dampened investors' expectations of a sustained income bonanza from rising global interest rates, even after Europe's biggest bank reported a 92% surge in quarterly profit and pledging more regular dividends and share buybacks.

'NO EASING OFF'

"There will be no easing off at all on costs ... We are now considering up to $300 million of additional costs for severance in 2023," he said.

 

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HSBC's dividend spree offset by concern that rate rise profit party may be overHSBC's quarterly profit surged 92% as rising interest rates swelled net interest income, but its Hong Kong shares fell 2% as a cautious outlook left investors pondering whether the rates boost may already have peaked.
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