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Europe’s largest lender HSBC on Wednesday reported annual pre-tax profit of $29.91 billion, beating the estimates on the back of a strong performance in its wealth division and Hong Kong businesses.
While annual profit declines 7.4%, HSBC’s revenue gained 4%, year on year.
Here are HSBC’s full-year results compared with the consensus estimates compiled by the bank.
The lender’s fourth quarter profit before tax rose to $6.8 billion, up $4.5 billion from a year earlier, largely due to favorable one-off items linked to business disposals. Operating expenses rose 8% to $9.3 billion, reflecting restructuring costs, technology investment and higher performance-related pay.
