Arab Today, arab today hsbc reports 6fall in profits
Last Updated : GMT 05:03:58
Arab Today, arab today
Arab Today, arab today

HSBC reports 6 % fall in profits

Arab Today, arab today

Arab Today, arab today HSBC reports 6 % fall in profits

London - KUNA

Banking giant HSBC Monday reported a 6 percent drop in full-year profits to 20.6 billion US dollars (13.7 billion pounds).  The figure, which comes despite HSBC\'s record fine of 1.9 billion US dollars (.2 billion pounds) to settle a US investigation into money-laundering, was below forecasts of around 23.4 billion US dollars (15.6 billion pounds), experts said.  The banking group makes an estimated 90 percent of its money outside Britain and has benefited from its exposure to emerging markets in Asia.  Chief executive Stuart Gulliver received a bonus of just under 2 million pounds as part of a total pay and benefits package worth 7.4 million pounds.  The overall figure, which compares with 8 million pounds a year earlier, includes his base salary of 1.25 million pounds, around 1.2 million pounds of benefits including pension entitlement, plus long-term share incentive awards worth 3 million pounds.  HSBC suffered massive losses at the start of the financial crisis, due to its investment in US sub-prime mortgage lender Household Finance, but since taking over as chief executive in 2011 Gulliver has led an overhaul of the bank\'s operations.  He has reduced staff by around 10 percent to the current 270,000 and announced the disposal or closure of 47 businesses and non-core investments.  Stripping out the impact of movements in the value of its debt, HSBC said underlying profits were up 18 percent to 16.4 billion US dollars (10.9 billion pounds).  This includes the fines levied by US authorities and an increased provision of 1.7 billion US dollars (1.1 billion pounds) to cover insurance mis-selling claims and 598 million US dollars (398 million pounds) on interest rate swaps in the UK.  In a statement, Gulliver said: \"HSBC made significant progress in 2012. First and foremost we grew our business. We increased revenues, performed well in most faster-growing markets and enjoyed a record year in commercial banking.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hsbc reports 6fall in profits Arab Today, arab today hsbc reports 6fall in profits

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday