The bank, which is now undergoing a major overhaul which has resulted in tens of thousands of people being made redundant in the last couple of years, reported a six per cent jump in revenues to $13.7bn.
Among HSBC's main four business lines, profit from retail, commercial and private banking rose, while earnings at the investment banking fell, largely because of a 10% drop in revenue from trading.
The bank said it is involved in "active discussions" with the U.S. Justice Department on resolving civil claims and has set aside $897 million in relation to the U.S. probe on its sale of mortgage-backed securities. Mr Flint said the 8 per cent rise in underlying quarterly costs reflected investments in its Chinese and United Kingdom retail banking operations, its Chinese securities joint venture and digital improvements across the group.
"The "bad" element was cost development where cost growth outstripped revenue growth", said Joseph Dickerson, banks analyst at Jefferies.
HSBC said it has a strong capital base, with its common equity tier 1 ratio standing at 14.5% at the end of March, flat from the end of 2017.
On the other hand, the rising costs and subdued return on equity reflect some of the challenges Flint still faces.
Nevertheless, the first-quarter numbers still "represent a good start for 2018 for HSBC", Iain Mackay, HSBC's group finance director, told CNBC's Sri Jegarajah after the release of the results. They are due to present their new strategy at or before their interim results in early August.
HSBC's revenue rose, however, to USD13.71 billion from USD12.99 billion the prior year and from USD12.30 billion in the last quarter of 2017.
In the first quarter, adjusted pre-tax profit hit $6.03bn, or 3 per cent lower than the same period past year, but slightly above analyst expectations of $6bn.
Shares were down 1.4 per cent on the open.
"Our global businesses performed well in the first quarter, maintaining momentum from the end of 2017".
Rising interest rates helped the bank generate more profit from a large base of deposits after years of low rates in the USA pushed down margins.
Flint, who took over as CEO in February, said that HSBC is benefiting from interest rate hikes and economic growth, particularly in Asia. Hong Kong was a major contributor to the positive figures in the unit. Loans grew by $17 billion, or 2 per cent, in the first quarter.
South Korea though was given an indefinite exemption in exchange of a 30% cut in its steel exports to the Trump's America first. Canada , Mexico and the European Union (EU) will be exempt from USA -imposed steel and aluminum tariffs for another 30 days.
The latest incident at the Monmouth County school took place at 5:45 a.m. on Monday, according to The Asbury Park Press. Police said staff members at the school were keen to catch the culprit behind the spate of mystery fecal findings.
Rudy Giuliani said Thursday morning, the US has North Korean leader Kim Jong Un impressed enough to release the prisoners. Kim Hak Song also worked at PUST and was detained on a similarly vague charge of "hostile acts" against North Korea.
Whether Manafort colluded with Russian government officials as Russia was trying to meddle in the 2016 USA election. Ellis III suggested that the reason prosecutors were going after Manafort was to try to get him to flip on Trump.
Abe is only the third Japanese prime minister to visit Israel since the two countries established diplomatic relations in 1954. Netanyahu said Israel "would love to have [Trump]" attend the ceremony, though it's unclear if the president will be there.
At least 90 people were killed as squalls and dust storms tore across parts of northern India , weeks ahead of the monsoon rains. Media reports said more than 20 people were found dead in the village of Kheragarh southwest of Agra.
Images posted online seem to show that the damaged window was just behind and above the engine on the left wing of the plane. None of the 81 passengers on the plane was injured and Southwest said its pilots did not request an emergency landing.
Leading up to its earnings, there were rumors that Apple might abandon the iPhone X because of its high retail price. OEM performance insights * Samsung led the smartphone market by volume with a market share of 22 percent in Q1 2018.
In March, Jenner revealed that she gained about 40 lbs. during pregnancy during a Q&A session with her Twitter followers. Every time I leave I'm stressed about leaving her, I'm like, "I'm doing it for you".
He had famously vowed to sell off Erdogan's enormous presidential palace opened in 2014 should he be elected. He ran as the sole challenger for party leadership against Kilicdaroglu in the last two CHP party elections.
China is engaged in hotly contested territorial disputes in both the South China Sea and the East China Sea. Pacific Command, said China's "forward operating bases" in the South China Sea appeared complete.
Some noted that it appeared to be a bug on Facebook's part, offering "test" options to people who clicked yes. Facebook said it was "an internal test" and that a bug caused it to accidentally launch publicly.
Musk defends cutting off analysts during conference call
The gaffe could be especially painful as Tesla might need to jump back into the capital markets to subsidize Model 3 production. Musk also revealed further details on the Tesla electric minibus, first alluded to by Musk at the Master Plan conference.
United Nations chief warns against scrapping Iran nuke deal
JCPOA sets up limits on Iranian nuclear actions in exchange for the suspension of financial sanctions against Iran by the West. The U.S. -plus China, Russia, Germany, France , Britain and the European Union -all have gotten what they asked for.
Trump reimbursed lawyer for payment to porn star: Giuliani
Daniels, whose real name is Stephanie Clifford, had agreed to cooperate with an In Touch magazine article on Trump in May 2011. The payment is going to turn out to be "perfectly legal", Giuliani said in an interview with Fox News' Sean Hannity .
Pranksters hang auto from Toronto overpass
Officials say they initially thought it might have been hung there as part of a movie shoot, but that theory was later ruled out. A blue sedan was spotted swaying back-and-forth from a rope underneath the Millwood Overpass Bridge, south of Don Mills Road.