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HSBC presented the goal of saving $ 300 million this year and reducing USD 1.5 billion by the end of next year, since it achieved a profit increase in the fourth quarter.
The bank said on Wednesday that in the last three months of last year it was made a profit of $ 2.3 billion in a total year report in which the effects of Chief Executive Georges Elheders were highlighted by a total annual report overhauled overhaul Since he accepted the top job in September.
The changes include the description of HSBC’s business activities in eastern and western units, the closure of the most important parts of its investment banking business and the fusion of two of the three main units. An expensive layer of high -ranking bankers is awarded.
HSBC The overhaul of $ 1.8 billion would be triggered in the advance costs, including severance payments, in 2025 and 2026. It would be aimed at bringing about 1.5 billion from “non -strategic activities” to areas where it had a competitive advantage.
“I have set up a smaller, central team of exceptionally talented managers who are driven by a growth -oriented way of thinking and a permanent focus on dynamic management of our costs and capital. . . We look with confidence and clarity of the purpose of the future, ”said Elhadery.
The bank’s input tax for the year to December rose to USD 32.3 billion and defeated the estimates of the analysts of USD 31.7 billion.
HSBC presented a fourth intermediate dividend of 36 cents per share and took over the total of 87 cents in 2024 and said that it had planned a share of $ 2 billion, the last of a series in recent years.
According to the bank, the bank increased by 3 percent to $ 33 billion, partly to inflation and technology.
The net interest rate span, a decisive measure of the profitability of lending, fell by 10 basis points to 1.56 percent.
The margin – the difference between the interest that the bank receives through loans and the interest rate that it pays to insertion – rose together with interest rates in recent years, started a sign last year that the increase in increasing interest rates are switched off.
This puts the bank under pressure to reduce the costs and make the income less dependent on higher interest rates.
