HSBC, Europe’s number one bank by asset value, ended the fourth quarter of 2022 with pre-tax profit of $5.2 billion, up 108% from $2.5 billion in the same quarter period of the previous year, and better than the 4.97 billion expected by the analysts interviewed by the bank.
The giant motivated its profitability growth with solid revenue numbers and lower operating expenses.
For the full year of 2022, however, the bank reported pre-tax profit down to $17.53 billion, compared to $18.91 billion in 2021.
The 2022 accounts, HSBC specified, weighed on a charge of 2.4 billion linked to the planned sale of its retail banking operations in France.
HSBC shares rose 3% on the London Stock Exchange after the UK giant also announced a dividend of 32 cents per share, the record since 2018, also announcing its intention to distribute a special dividend following the sale of its business in Canada, valued at $10 billion (£8.3 billion equivalent).