HSBC sets aside US$3 billion for buy-back as result beats estimates in tribute to retiring CEO

HSBC has announced a US$3 billion buy-back plan after exceeding profit estimates, in honor of retiring CEO Stuart Gulliver. The bank’s strong performance was driven by a rise in revenue and cost-cutting measures, leading to a higher-than-expected profit. This move reflects HSBC’s commitment to rewarding shareholders and maintaining financial stability under new leadership.

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