HSBC Q1 Profit Edges Lower as Rising Credit Charges and Costs Offset Revenue Gains
HSBC reported first-quarter profit before tax of $9.4 billion, a slight decline from the prior year as an increase in expected credit losses and operating expenses offset revenue growth driven by wealth fee income and higher net interest income. Revenue rose 6% to $18.6 billion, while the bank raised its 2026 net interest income guidance and signal…