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HSBC Holdings PLC (HSBC)

  • Feb. 24, 2014, 4:39 AM
    • HSBC's (HSBC) 2013 pretax profit rose 9% to $22.56B but fell short of consensus of $24.6B.
    • Underlying revenue grew to $63.3B from $61.6B, while underlying operating costs dropped 6% to $38B.
    • Q4 pretax profit fell to $3.96B from $4.43B a year earlier.
    • HSBC increased its dividend to $0.49 a share from $0.45.
    • However, the bank warned of "choppy markets" this year as emerging economies adjust to "changing economic circumstances and sentiment."
    • Shares are -4.2% in London. (PR)
    | Feb. 24, 2014, 4:39 AM | Comment!
  • Aug. 5, 2013, 5:01 AM
    • HSBC's (HBC) underlying pretax profit +47% to $13.1B, helped by lower loan-impairment charges and operating costs.
    • Attributable profit +23% to $10B.
    • Net interest income -8% to $17.8B.
    • Western economic growth continued to be tepid while growth in China and the rest of Asia stuttered; regulatory reforms added to costs.
    • Impairment charges and credit risk provisions -$1.7B to $3.1B.
    • Grew revenues in key areas: Financing & Equity Capital Markets, Credit businesses, residential mortgages in the U.K. and Hong Kong, and from collaboration between global businesses.
    • Return on equity rises to 12% from 10.5% last year.
    • Underlying expenses -8%, helped by $800M of cost savings across all regions, taking the annualized total to $4.1B since the start of 2011.
    • Core tier 1 ratio 12.7%, common equity tier 1 ratio 10.1%.
    • Total assets -2% since December to $2.645T.
    • Declares second interim dividend for 2013 of $0.10 a share.
    • Shares -3%. (PR)
    | Aug. 5, 2013, 5:01 AM | 1 Comment
Company Description
HSBC Holdings PLC provides banking and financial services through four segments namely Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets and Global Private Banking.