View of the HSBC bank logo on the wall in front of the branch in Mexico in Mexico on June 14, 2024.
Henry Romero Reuters
On Wednesday, the largest lenders of the HSBC lenders recorded an annual profit before taxing in the amount of USD 32.31 billion, slightly lost estimates of analysts, because the bank's interest income dropped by USD 3.1 billion compared to the year of the year.
Throughout the year, HSBC recorded revenues of USD 65.85 billion, compared to USD 66.1 billion in 2023.
Here are the year -round HSBC results compared to the average LSEG estimates:
- Profit before taxing: $ 32.31 billion vs. $ 32.63 billion
- Income: $ 65.85 billion vs. $ 66.52 billion
The bank's profit before tax for the fourth quarter almost doubled from the year to $ 2.3 billion.
These are the first full results of the lender with Georges Elhedery as the General Director of the Bank at Headquartered in London. Elhedery, who was the bank's financial director, was elected to run the company in July after retiring Noel Quinn.
The bank's shares on the Hong Kong Stock Exchange fell by 0.29% after the profit was issued.
On Tuesday, HSBC rejected about 40 investment bankers in Hong Kong, Reuters reported. The sectors hit the heaviest, apparently they are a merger and acquisitions, consumers, real estate, resources and energy.
In October last year, the bank revealed plans reorganize your business to four unitsdistributing its activities into the “Eastern Markets” sector and a branch of “Western Markets”.
HSBC said the bank is focusing on costs.
LSEG data showed that HSBC shares in Hong Kong gained over 23% last year.
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