HSBC reports Q4, full year 2022 earnings


HSBC CEO: We have a much healthier capital base and profit generation than before Covid

HSBC on Tuesday reported fourth-quarter earnings for 2022 that beat analyst expectations.

The bank’s reported profit before tax for the three months ended in December was $5.2 billion, 108% higher than $2.5 billion a year ago and better than the $4.97 billion expected in estimates compiled by the bank. HSBC said its fourth-quarter results reflect strong reported revenue growth and lower reported operating expenses.

For the full year, reported revenue was $51.73 billion, up from $49.55 billion in 2021. The bank’s reported profit before tax for 2022 fell to $17.53 billion from $18.91 billion a year ago. It said the 2022 reported pre-tax profit included a $2.4 billion impairment due to the…

Source cnbc.com

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