HSBC boss in bonus charity pledge as bank profits rise 56 per cent

HSBC boss Michael Geoghegan confirmed today that he will hand up to £4m of his bonus payouts to charity as the banking giant reported a 56 per cent rise in annual profits.

The group said it made 13.3 billion US dollars (8.8 billion) in underlying pre-tax profits last year, up from an adjusted 8.6 billion dollars (5.7 billion) in 2008.

Its chief executive said he would pass on his 4 million bonus entitlement - which will be paid in deferred shares - to charities around the world over the next three years.

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