HSBC Holdings (00005) announced its third-quarter results, benefiting from improved net interest income and fee income. Pre-provision profits and pre-tax profits, excluding special items, exceeded expectations by 9%. Fee and other income were 6% higher than anticipated, while operating expenses were 1% above forecasts, driving a 9% increase in pre-provision profits. Despite higher provisions for Hong Kong commercial real estate, impairment charges remained in line with expectations at 40 basis points of total loans.

UBS noted that HSBC has raised its guidance for 2025 return on tangible equity and net interest income for its banking business. The bank reiterated its full-year 2025 outlook, projecting net interest income of $43 billion or better (up from $42 billion previously, with market consensus at $42.45 billion). The target for operating expenses is a 3% year-on-year increase to approximately $33.5 billion (market consensus: $33.3 billion), with loan loss provisions expected at around 40 basis points (market consensus: 42 basis points).