News Artcle

HSBC 2012 pre-tax profit near record high: report

Published March 3, 2013

LOS ANGELES (MarketWatch) -- Global banking major HSBC Holdings PLC is due to post a 2012 pre-tax profit of $23.4 billion, just short of its record $24 billion posted in 2007, the Independent reported Sunday, citing London analysts' forecasts. HSBC, while headquartered in London, has large exposure to Asian emerging markets and makes 90% of its revenue outside the U.K., the report said. The strong results will mean a bonus of around £2 million ($3 million) for its Chief Executive Officer Stuart Gulliver, bringing his total pay and benefits to between £6 million and £7 million for last year, the report said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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