HSBC reported a 45.5% year-on-year increase in third-quarter net profit to $7 billion on Tuesday, falling short of market expectations as the bank continues to restructure its operations and cut costs. Profit attributable to shareholders rose to $7 billion in the three months ending September, up from $4.87 billion in the same period last year. Pre-tax profit increased by 32% to $9.6 billion, and revenue grew by $800 million to $18.6 billion. HSBC also approved a third interim dividend of $0.10 per share and announced a second $1 billion share buyback program. The bank expects net interest income to be at least $46 billion in 2025, with expected credit losses decreasing by 17% year-on-year to $800 million.