|Bid||20.80 x 3000|
|Ask||20.81 x 3000|
|Day's Range||20.42 - 20.80|
|52 Week Range||17.95 - 39.37|
|Beta (5Y Monthly)||0.43|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 27, 2020|
|1y Target Est||22.56|
At this time, I will hand the call over to your host, Mr. Noel Quinn, Group Chief Executive. Let me start by saying that I'm pleased with our third quarter performance and the way that our business and our people have continued to respond to a challenging environment.
Global banking giant (HSBA)indicated that it would shift away from interest rate-sensitive businesses, as it posted earnings that were stronger than analyst expectations but still highlighted the impact of the Covid-19 pandemic. European banks have struggled to cope with low interest rates and the possibility of large-scale credit defaults as a result of the coronavirus pandemic. HSBC alone increased its reported expected credit losses for the first half of 2020 by $5.7 billion compared with the previous year, to $6.9 billion.
HSBC records a decline in revenues along with lower expenses in the third quarter of 2020.