...Strong momentum in HSBC Holdings plc's Asia wealth management business and a material rise in foreign-exchange income, driven by market volatility, helped the group easily absorb increased expected credit losses from US tariff uncertainties. Robust fees and other income and still-strong net interest income drove a solid operating profit of USD9.5 billion in 1Q25 (equivalent to 4.5% of risk-weighted assets, annualised), which compares well against global peers. Fitch Ratings expects HSBC's strong profitability and capitalisation, which underpin the bank's `A+' rating, to mitigate adverse impacts from higher tariffs....
