HSBC FY17 Pre-tax Profit Surges; Maintains Dividend

20 Febrero, 2018, 18:28 | Author: Arnold Perez
  • HSBC FY17 Pre-tax Profit Surges; Maintains Dividend

HSBC's fortune turned around in 2017 with an increase in the year's profit.

Wong added that HSBC is "in a better shape" compared to other worldwide banks.

HSBC's 2017 pre-tax profit rose 142 per cent as the lender avoided the multibillion-dollar restructuring costs that marred its 2016 results, but the profit growth lagged expectations as it took a writedown following United States tax changes.

HSBC said in its earnings statement that its 2017 financial results include a charge of $1.3bn relating to the "remeasurement of U.S. deferred tax balances" to reflect the reduction in the U.S. federal tax rate to 21 per cent from 2018.

HSBC also said on Tuesday that it would look to issue additional tier 1 capital of between US$5 billion and US$7 billion. Picture taken September 5, 2017.

Full-year profit before tax rose to $17.2bn (£12.3bn ) in 2017, up from $7.1bn in 2016, but the figure was below analysts expectations of $20bn.

More news: Sony jumps into Japan taxi market with AI app plans
More news: Top 5 dunks from the 2018 NBA Slam Dunk Contest
More news: Bombardeo israelí mata a dos jóvenes palestinos en Gaza

Rising interest rates helped the bank to increase revenues in its retail division by 9 percent in 2017, particularly from growing deposits and charging higher spreads in its second home market of Hong Kong.

Total revenue for the asset management business was at $281m for the fourth quarter of 2017, up from $252m year on year. HSBC is simpler, stronger, and more secure than it was in 2011.

Two prominent HSBC clients during that period have run into trouble, namely, British infrastructure outsourcing company Carillion and South Africa and Germany-listed retailer Steinhoff International Holdings.

"I am working with the management team and the board to evolve our strategy and execute it at pace, and I will update shareholders on this work by our half-year results".

That could include the results of a review into HSBC's underperforming USA business which has long suffered from a lack of scale and the after-effects of the bank's disastrous acquisition of Household International in 2003. "We want to get the AT1 issuance done, and so there are technical reasons why we can't allow a buy-back", said Flint.



Breakthrough blood test can spot autism in children
For now, the only thing that current science is able to tell is that the samples are chemically different from each other. A simple blood test to diagnose ASD could make a huge impact on an child's development if they do indeed have autism.

El terrorífico final de mujer que fue enterrada viva por error — YouTube
Se trata de Rosangela Almeida , de 37 años, quien sufría desmayos desde los 7 años y tomaba pastillas para evitarlos. La mujer, muerta en el interior de su propio ataúd , había intentando salir durante 11 días, sin éxito alguno.

Chicago Blackhawks Fans Ejected After Hurling Racist Taunts At Black Player
Smith-Pelly, who is black, was in the penalty box in the third period after a fight with Blackhawks defenseman Connor Murphy . Per ESPN , Capitals coach Barry Trotz told reporters after the game that Smith-Pelly was visibly upset by the incident.

Sobreviviente de tiroteo exige a Trump mayor control de armas
De acuerdo con las leyes estatales de Florida , un rifle de este tipo puede ser adquirido a partir de los 18 años de edad.

Turkish forces accused of chemical warfare in Syrian attack
The army also said it was careful to not harm civilians and only targeted "terrorists" and their positions in the Afrin region. That included Trump promising Erdogan he would stop arming the Kurdish militant group YPG , much to the chagrin of the U.S.

Avión se estrella en Irán con 66 pasajeros a bordo
Todo indicaría que la neblina y los vientos registrados en la zona fueron factores determinantes para provocar el accidente. El avión estaba cubriendo la ruta que une la capital de Irán con la ciudad de Yasuy, ubicada al sudoeste del país.

Tras sismo, Segob declara emergencia en 33 municipios de Oaxaca
El 19 de septiembre, otro sismo de magnitud 7,1 dejó severos destrozos en la capital y otros cinco estados del país, con un saldo de 369 fallecidos.

Ejército enfrentó a hombres armados en la frontera de San Lorenzo
El 27 de enero, el Comando Policial de San Lorenzo fue dinamitado con un coche bomba. "No vamos a permitir que nos amedrenten". Una persona ha sido detenida y entregada a las autoridades competentes.

A Foul-Smelling Storm on Neptune is Mysteriously Fading Away
Plus, with James Webb Space Telescope coming into action next year, we can expect more such discoveries in the near future. First of all, researchers aren't exactly sure how these storms form in the first place - though they do have some guesses.

Gana Guillermo del Toro BAFTA a Mejor Director
El premio a la mejor música original lo obtuvo La forma del agua , de Guillermo Del Toro , con música de Alexandre Desplat. Pasaron el Globo de Oro, el premio DGA del Sindicato de Directores de Hollywood y el Critic's Choice.