HSBC earnings slump, return on equity slips
(03-04 16:33)
British bank HSBC, which was fined by US regulators for its involvement in drug money laundering in Mexico and other financial crimes, said annual said pre-tax profit fell 6 percent to US$20.6 billion.
But underlying earnings, including the negative impact of regulatory fines and penalties and UK customer redress provisions totaling US$4.3bn, grew by 18 percent to US$16.4b the bank said today.
The return on equity was also down to 8.4 percent compared with 10.9 percent in 2011.
Profits attributable to shareholders slumped 17 percent to US$13.45 billion.
Earnings per share was US$0.74 cents, down 20 percent compared with 2011.
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