HSBC reports fourth-quarter pre-tax profit of $5.2 billion, beating estimates
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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. Analyst estimates 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 shares of HSBC were about 1% lowerbefore the release.
Europe's largest bank by assets' full-year report comes as central banks across the world continue to raise interest rates to tame inflation. That is expected to have supported the lender's net interest margins.
This is a breaking news story, please check later for updates.
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