HSBC’s profit surges on strong net interest income, plans $2 billion in buybacks

HSBC’s first-quarter net profit surged more than three times compared with the same period a year earlier as the lender continues to benefit from tighter monetary policy globally.

First-quarter net profit surged to $10.33 billion from $2.76 billion in the same period a year earlier, the Asia-focused lenderHSBC UK:HSBA said Tuesday.

Revenue…