HSBC Holdings Announces 2023 Annual Results and China Writedown Impact
Wednesday, 21 February 2024, 04:19
HSBC Holdings Annual Profit Report
HSBC Holdings reported a record annual profit of $30.3 billion for 2023, showing a 78% increase from the previous year but missed analyst estimates. The profit growth was overshadowed by a significant $3 billion charge related to its stake in a Chinese bank.
Investor Rewards
- The British lender plans to reward investors with a $2 billion share buyback.
- HSBC considers a special dividend of $0.21 per share in the first half of 2024 after the Canada disposal.
The financial results reveal the impact of the China writedown on HSBC's overall performance and its strategy to enhance shareholder value.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.