HSBC Says Further Buybacks Will Be Subject to Appropriate Capital Levels

HSBC HOLDINGS released its financial results for the third quarter of 2023. The group expressed that it remains committed to targeting a return on average tangible equity (RoTE) in the mid-teens for 2023 and 2024, which excludes the impact of material acquisitions and disposals.

A third dividend of US$0.1 per share was declared, and the group intends to initiate a further share buy-back of up to US$3 billion, which it expects to commence shortly and complete by its 2023 full-year results announcement on 21 February 2024. Further buy-backs will be subject to appropriate capital levels.