HSBC: Earnings Boom, + 79% to $ 5.8 billion in Q1. But the turnover disappoints. Watch out for dividends

HSBC, Europe’s largest bank by asset value, announced it reported first-quarter pre-tax earnings up 79% year-on-year to $ 5.8 billion, better than the giant’s $ 3.34 billion expected. (which generates most of its turnover in Asia).

Revenue, however, was down 5%, year-on-year, to $ 13 billion. HSBC explained the decline with the low interest rate environment.

The bank said in February that it would not pay quarterly dividends in 2021, but that it would at the same time consider an interim payout when the mid-year results released, scheduled for August.

For 2022, HSBC expects a payout ratio of between 40% and 55% of reported earnings per share.