LONDON: HSBC Holdings Plc announced a US$2.5bil share buyback for this year, seeking to soften the blow to investors as global economic uncertainty prompted it to abandon a 2017 profitability target and step back from its plans to boost dividends.
Pre-tax earnings fell 45% to US$3.61bil from a year earlier, the bank said, and it removed a target of surpassing a 10% ROE by the end of next year.
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