HSBC has reported lower-than-expected profits for the third quarter of 2016, impacted by market volatility and sustained low-interest rates.

The bank’s pre-tax profit for the quarter was $843 million, significantly below analyst predictions. Revenue also declined compared to the same period last year.

Key factors influencing the results include:

• Uncertainty in global markets following the Brexit vote.
• Continued pressure on net interest margins due to low-interest rate environment.
• Increased regulatory costs.

Despite the disappointing results, HSBC’s management remains confident in the bank’s strategic direction. They highlighted ongoing cost-cutting measures and investments in key growth markets as reasons for optimism.

The bank is continuing its efforts to streamline operations and reduce expenses. HSBC is also focused on expanding its presence in Asia, particularly in China.

Analysts suggest that HSBC’s future performance will depend on its ability to navigate the challenging global economic environment and successfully execute its strategic initiatives.