HSBC's Net Profit Soars to $12.6 Billion Last Year, Tripling Previous Year

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Hyunjung] British bank HSBC announced that its net profit last year reached $12.6 billion (approximately 15.0582 trillion KRW). This is a threefold increase compared to the previous year, but it fell short of the expert consensus ($19.1 billion).

Noel Quinn, CEO of HSBC, stated in a press release on the 21st (local time), "Last year's strategy has yielded results," adding, "The momentum is good this year as well, and I am confident that we can continue to execute according to our strategy." He also explained, "We are aware of the potential impact of COVID-19 related uncertainties and persistent inflation on our customers."

HSBC announced on the same day that it will pay a dividend of $0.25 per share, up from 15 cents in 2020.

Earlier, Standard Chartered recorded a loss of $457 million last year.

This content was produced with the assistance of AI translation services.