Finance

HSBC reports fourth-quarter, full-year 2020 earnings

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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%…



Source cnbc.com

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