BREAKING NEWS

BREAKING NEWS

HSBC 2018 profit rises 16 percent, lags estimates

HSBC 2018 profit rises 16 percent, lags estimates
FILE PHOTO: The HSBC headquarters is seen in the Canary Wharf financial district in east London, Britain February 15, 2016. REUTERS/Hannah McKay -
@ Copyright :
Hannah Mckay(Reuters)
Text size Aa Aa

HONG KONG/LONDON (Reuters) - HSBC Holdings Plc posted on Tuesday an increase of 15.9 percent in 2018 profit, as the bank avoided tax writedowns that marred its results a year earlier and earnings in its key market of Asia grew.

HSBC reported a profit before tax of $19.9 billion for 2018 compared with $17.2 billion the year before. The profit for the year, however, was below an average estimate of $22 billion, according to Refinitiv data based on forecasts from 17 analysts.

Europe's biggest bank by market capitalisation said it would pay a full-year dividend of $0.51 per share, roughly in line with analysts' expectations. The bank was confident of maintaining the dividend at this level, it said.

(Reporting By Sumeet Chatterjee and Lawrence White; additional reporting by Alun John in Hong Kong; Editing by Himani Sarkar)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.