HSBC profits more than double
HSBC today reported profits more than doubled in 2010 to $19bn (£11.8bn), with every region in the black for the first time since 2006.
The banking giant’s result marks a sharp rise on the $7.1bn (£4.4bn) posted in 2009 as it continues to benefit from lower bad debt losses.
But HSBC’s new chairman Douglas Flint said the group will “not forget” the financial crisis and support from governments around the world, adding the group entered 2011 “with humility”.