“We’ve got very strong capital generation at the moment,” Quinn said, speaking in an interview Monday with Bloomberg Television. “We’re in a good position to reward our shareholders for their patience and loyalty over the past few years.”
HSBC Holdings announced a fresh buyback program and hinted at the potential for further returns to investors despite announcing profits for the third-quarter that missed market expectations.
The London-headquartered bank said that it would shortly begin buying back an additional US$3 billion of its shares, taking total stock repurchases for the year to US$7 billion. HSBC CEO Noel Quinn suggested there may be more to come.
