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HSBC profits rise for 2013 thanks to cost-cutting

  • Release time:2014-02-24

  • Browse:5682

  • HSBC has reported a 9% rise in profit for last year, boosted by cost cuts as it restructured the business.

    Reported pre-tax profit was $22.6bn (£13.6bn), compared with $20.6bn in 2012, the bank said.

    The bank sold or closed 20 non-strategic businesses last year as it streamlined the business.

    "The group today is leaner and simpler than in 2011, with strong potential for growth," said chief executive Stuart Gulliver.


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