HSBC pre-tax profit climbs 6.6% to $32.2bn; plans $1.5bn cost savings by end of 2026

HSBC’s profit before tax PBT climbed by $2 billion to $32.3 billion for the financial year ending December 31, 2024, according to a regulatory announcement profit after tax increased by $400 million to $25 billion. Overall revenue across the group climbed from $66 billion in 2023 to $66.85 billion last year. 

In Hong Kong, the bank's revenue was $15 billion, with PBT of $9 billion the UK revenue was $11.95 billion with PBT of $6.6 billion for corporate and institutional banking revenue was $26.8 billion with PBT at $11.4 billion while the group's international wealth and premier banking division saw revenue of $14 billion and PBT of $3.97...