HSBC Holdings reported a better-than-expected 92 per cent surge in quarterly profit on Tuesday (Feb 21) as rising interest rates swelled its net interest income, encouraging Europe's largest bank to reiterate it could meet a key performance target for this year.
The bank said it intended to pay a special dividend of US$0.21 per share, as a priority use of the proceeds from the US$10 billion sale of its Canada business, once that disposal is complete late this year.
The London-headquartered lender reported pretax earnings of US$5.2 billion for the fourth quarter, up from US$2.7 billion a year earlier and ahead of the US$4.96 billion average estimate of analysts compiled by the bank.
"With the delivery of higher returns, we will have increased distribution capacity, and we will also consider a special dividend once the sale of HSBC Canada is completed," Group Chief Executive Noel Quinn said in a statement.
HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021.
.jpg "Technology in Cancer Care: A story of evolving paradigms")
.jpg "Bringing Shop Floor to Manufacturer's palm: Smart Factory Solutions for tomorrow")
