The Asia-focused British bank has reported a six percent increase in pre-tax profit for 2024.
HSBC wrapped up the fourth quarter of 2024 with pre-tax profit soaring over 130% year-on-year (YoY) to US$2.28 billion, according to the lender’s earnings reports released today (19 February).. The latest figures reverse the 80% profit tumble reported on Q4 2023 after being hit with an unexpected US$3 billion charge on holdings in China's Bank of Communications. Revenue dropped 11% year-on-year (YoY) to US$11.6 billion during the three months ended December, however. The decrea