HSBC building in the Canary Wharf district of London, U.K.
Leon Neal | AFP | Getty Images
HSBC on Tuesday reported full-year earnings for 2020 that beat expectations and announced a dividend payout for the first time since the Covid-19 pandemic.
Europe’s largest bank by assets, which makes most of its revenues in Asia, said its reported profit before tax for 2020 fell 34% from a year ago to $8.78 billion. That beat analyst expectations of $8.33 billion, according to estimates compiled by HSBC.
Reported revenue was $50.43 billion for the year, down 10% from 2019.
HSBC’s latest financial report card was released as Hong Kong markets went for a lunch break. Its Hong Kong-listed shares jumped 5%…