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The HSBC bank earned 3,898 million dollars in 2020, 34.7% less
Beijing, Feb 23 (EFE) .- The HSBC bank, the largest in Europe, announced on Tuesday that its attributable profit decreased by 34.7% in 2020, compared to the previous year, to 3,898 million dollars (3,203 million euros ). In last year’s income statement, published today on its official website, HSBC assures that, despite “the challenges presented by the covid pandemic and the greater political uncertainty”, the bank managed to “support its liquidity needs, increased deposit balances and continued to invest in technology to assist clients in exceptionally challenging conditions. ” Profit before tax was 8,777 million dollars (7,213 million euros), 34.24% lower than that of 2019. Meanwhile, income in 2020 stood at 50,429 million dollars (41,445 million euros) compared to the 56,098 million dollars (46,088 million euros) of the previous year. HSBC executive advisor, Noel Quinn, thanked his clients for their “loyalty to the group during a very turbulent year” and indicated that the bank aims to develop a plan to be “more dynamic, efficient and agile, with a priority digital”. HSBC President Mark E. Tucker added that COVID infections are still very high in Europe, the United States and Latin America and that, despite optimism about the arrival of vaccines, “there is still a long way to go before that life can return to something similar to normal. Recovery will take longer in those economies. ” Thus, given the uncertainties, it is “vital that HSBC focus on what it can control,” Tucker said, adding that “the group is doing everything possible to reallocate capital from underperforming businesses, reduce costs and simplify the organization. “. Regarding the solvency ratio, Tier 1 -basic own resources- was 15.1% in 2020, an increase compared to 14.7% in 2019. At the end of the year, the loans granted totaled 1,037 billion dollars (852,102 million euros) compared to 1,036 million dollars (851,281 million euros) the previous year, an increase of 0.12%. Likewise, deposits collected increased by 14.11%, to 1,642 trillion dollars (1,349 trillion euros), compared to 1,439 trillion dollars (1,182 trillion euros) in the previous year. The bank indicated that the value of its clients’ accounts in Hong Kong amounted to 32% of the total, followed by those in the United Kingdom (30%), Asia (11%), North America (11%), Europe (8 %), Mainland China (3%), Middle East and North Africa (3%) and Latin America (2%). Likewise, the entity informed that it will pay a dividend of 0.15 dollars (0.12 euros) per common share in 2020. (c) Agencia EFE
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