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HSBC 2018 profit rises 16% but below estimates

Feb 19

HSBC 2018 profit rises 16% but below estimates

HSBC reported a profit before tax of $19.9 billion for 2018 compared with $17.2 billion the year before Europe’s biggest bank by market capitalization said it would pay a full-year dividend of $0.51 per share

HONG KONG/LONDON: HSBC posted on Tuesday an increase of 15.9 percent in 2018 profit, as the bank avoided tax writedowns that marred its results a year earlier and earnings in its key market of Asia grew.
HSBC reported a profit before tax of $19.9 billion for 2018 compared with $17.2 billion the year before. The profit for the year, however, was below an average estimate of $22 billion, according to Refinitiv data based on forecasts from 17 analysts.
Europe’s biggest bank by market capitalization said it would pay a full-year dividend of $0.51 per share, roughly in line with analysts’ expectations. The bank was confident of maintaining the dividend at this level, it said.

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