Start Time: 03:45 January 1, 0000 4:52 AM ET
HSBC Holdings plc (NYSE:HSBC)
Q3 2023 Earnings Conference Call
October 30, 2023, 03:45 AM ET
Company Participants
Noel Quinn - Group CEO
Georges Elhedery - Group CFO
Richard O’Connor - Global Head, IR
Conference Call Participants
Aman Rakkar - Barclays
Joseph Dickerson - Jefferies
Jason Napier - UBS
Gurpreet Singh Sahi - Goldman Sachs
Manus Costello - Autonomous
Raul Sinha - JPMorgan
Perlie Mong - KBW
Robert Noble - Deutsche
Andrew Coombs - Citigroup
Operator
Good morning, ladies and gentlemen, and welcome to the Investor and Analyst Conference Call for HSBC Holdings plc's Q3 2023 Results. For your information, this conference is being recorded.
At this time, I'll hand the call over to Georges Elhedery, Group Chief Financial Officer.
Georges Elhedery
Thank you, operator, and hello, everyone. Thank you for joining us on our third quarter results call today. I will lead today's presentation and Noel will join me for the Q&A session.
Allow me first to begin by saying a few words on recent events in the Middle East. We have all been shocked by the devastating terrorist attack on Israel on 7th of October and saddened by the growing humanitarian crisis in Gaza. The loss of innocent life and suffering is heartbreaking. We continue to offer assistance to our impacted colleagues and clients. Just to be clear, we're not changing our strategy in Israel or the Middle East.
Turning to our results now. As always, our purpose ambition, values and strategy have been helping us drive the results that I am going to talk about today. Some highlights to begin with. First of all, the year-to-date performance clearly demonstrates that we have had three consecutive strong quarters reflecting the successful execution of our strategy.
Year-to-date reported profit before tax was $29.4 billion, which is an increase of $17.4 billion on the same period last year, supported by higher interest rates and enabled by our strong balance sheet and the non-recurrence of notable items. We have delivered an annualized return on tangible equity of 17.1%, excluding strategic transactions.
For the avoidance of doubt, these transactions are the reversal earlier this year of the impairment relating to the planned sale of our retail banking operations in France and the gain on acquisition from SVB UK. We've announced another share buyback of up to $3 billion, bringing total buybacks announced this year up to $7 billion. And we've announced three quarterly dividends which totaled $0.30 per share.