Hong Kong note wheel, and the Hong Kong and Shanghai Bank, HSBC building, Victoria harbor, Hong Kong, China.
Ucg | Measureless Images Group | Getty Images
HSBC on Tuesday reported fourth-quarter earnings for 2022 that beat analyst expectations.
The bank’s tell of profit before tax for the three months ended in December was $5.2 billion, 108% higher than $2.5 billion a year ago. Analyst guesses compiled by the bank had expected a jump of 87% to $4.97 billion.
For the full year, reported revenue was $51.73 billion, up from $49.55 billion in 2021.
Hong Kong-listed splits of HSBC were about 1% lower before the release.
Europe’s largest bank by assets’ full-year publish comes as central banks across the world continue to raise interest rates to tame inflation. That is needed to have supported the lender’s net interest margins.
This is a dispersing news story, please check later for updates.