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HSBC’s net profit fell by more than a third over the past year




MOSCOW, 23 Feb – PRIME. British-Hong Kong banking group HSBC Holdings plc in 2020 reduced net profit attributable to shareholders by 34.7% in annual terms to $ 3.898 billion, according to the bank’s financial statements. Net profit of Russian banks increased in January Net interest income amounted to 27.578 billion dollars, a decrease of 9.5%. Diluted earnings per share fell to $ 0.19 from $ 0.3 in 2019. The banking group’s revenue for the year decreased by 10.1% to $ 50.429 billion. According to the results of the fourth quarter, the bank received a net profit attributable to shareholders of $ 562 million against a loss of 5.5 billion a year earlier. Net interest income was $ 6.619 billion, down 13.5%. Diluted earnings per share were $ 0.03 against a loss of $ 0.27 a year earlier. Quarterly revenue decreased by 12% to $ 11.757 billion. Bank papers in London are down 2.5%. The HSBC Holdings plc group was formed in 1990 as the company that controls the activities of the HSBC bank (Hongkong and Shanghai Banking Corporation), which has existed since 1865.

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