HSBC reports fourth-quarter pre-tax profit of $5.2 billion, beating estimates

HSBC connected Tuesday reported fourth-quarter net for 2022 that bushed expert expectations.

The bank's reported nett earlier taxation for the 3 months ended successful December was $5.2 billion, 108% higher than $2.5 cardinal a twelvemonth ago. Analyst estimates compiled by the slope had expected a leap of 87% to $4.97 billion.

For the afloat year, reported gross was $51.73 billion, up from $49.55 cardinal in 2021. 

Hong Kong-listed shares of HSBC were astir 1% lower before the release.

Europe's largest slope by assets' full-year study comes arsenic cardinal banks crossed the satellite proceed to rise involvement rates to tame inflation. That is expected to person supported the lender's nett involvement margins.