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These estimates did not take into account the write-off of $ 1.3 billion in 2017, caused by the tax reform in the United States.
The lender said it plans to raise Tier 1 capital in the amount of $ 5 billion to $ 7 billion in the first half of 2018.
HSBC did not announce the next round of repurchase of its own shares, as analysts had expected. The bank said that it would carry out the repurchase of shares as necessary. Since August 2016, the bank has purchased shares from investors for $ 5.5 billion.
Tier 1 (key indicator of financial stability) at the end of last year was 14.5% compared with 13.6% a year earlier and 11.9% in 2015.
The bank's revenue last year increased to $ 51.4 billion from $ 48 billion a year earlier.
The increase in interest rates helped the bank increase its revenue in its retail division by 9% in 2017.
HSBC also added its revenue in its investment banking division by 3%. This is a relatively good figure, given the market environment during 2017, which, in particular, put pressure on banks' income from bond trading.
HSBC underwent a painful restructuring process under the direction of CEO Stuart Gulliver. The bank has reduced thousands of jobs, closed some branches and left some markets. Now, the restructuring coupled with favourable market conditions is bearing fruit for HSBC.
Gulliver resigns on Tuesday after more than seven years as head of HSBC.
As reported earlier in October, HSBC chose John Flint, who heads the retail sales and capital management division, the next CEO.
source: reuters.com
The lender said it plans to raise Tier 1 capital in the amount of $ 5 billion to $ 7 billion in the first half of 2018.
HSBC did not announce the next round of repurchase of its own shares, as analysts had expected. The bank said that it would carry out the repurchase of shares as necessary. Since August 2016, the bank has purchased shares from investors for $ 5.5 billion.
Tier 1 (key indicator of financial stability) at the end of last year was 14.5% compared with 13.6% a year earlier and 11.9% in 2015.
The bank's revenue last year increased to $ 51.4 billion from $ 48 billion a year earlier.
The increase in interest rates helped the bank increase its revenue in its retail division by 9% in 2017.
HSBC also added its revenue in its investment banking division by 3%. This is a relatively good figure, given the market environment during 2017, which, in particular, put pressure on banks' income from bond trading.
HSBC underwent a painful restructuring process under the direction of CEO Stuart Gulliver. The bank has reduced thousands of jobs, closed some branches and left some markets. Now, the restructuring coupled with favourable market conditions is bearing fruit for HSBC.
Gulliver resigns on Tuesday after more than seven years as head of HSBC.
As reported earlier in October, HSBC chose John Flint, who heads the retail sales and capital management division, the next CEO.
source: reuters.com
