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HSBC FY Profit Rises; Maintains Dividend - Quick Facts

Asia-focused lender HSBC Holdings Plc (HSBC,HSBA.L) reported that its fiscal 2018 reported profit before tax rose 16 percent to $19.89 billion from last year's $17.17 billion, reflecting revenue growth in all of global businesses.

Adjusted profit before tax was $21.72 billion, compared to $21.13 billion lat year.

Revenue was $53.78 billion, up 5 percent from $51.45 billion a year ago, notably driven by a rise in deposit revenue across its global businesses, primarily in Asia. Adjusted revenue rose 4 percent to $53.9 billion.

Further, the company maintained the dividend at $0.51 per ordinary share; total dividends in respect of the year of $10.2 billion; confident of maintaining at this level.

Return on average tangible equity rose to 8.6% from 6.8%, up 1.8 percentage points. The company reported Common equity tier 1 ('CET1') ratio of 14.0% and CRD IV leverage ratio of 5.5%.

John Flint, Group Chief Executive, said: "These are good results that demonstrate progress against the plan that I outlined in June 2018. Profits and revenue were both up despite a challenging fourth quarter, and our return on tangible equity is significantly higher than in 2017. This is an encouraging first step towards meeting our return on tangible equity target of more than 11% by 2020."

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