HSBC profiteering from poverty as it makes record high profits
HSBC is “profiteering from poverty,” campaigners warned today as the banking giant unveiled record-high yearly profits and nearly doubled the pay packet for its boss.
The bank said that its pre-tax profit surged by nearly 80 per cent to top $30.3 billion (£24bn) in 2023, from $17.1bn (£13.6bn) the year before.
The jump was helped by higher interest rates pushing up the cost of borrowing.
More from this author
Similar stories
Our 'big four' banks are suddenly coining it again, by fleecing lenders and under-rewarding savers — and neither party is suggesting any accountability, laments BERNIE EVANS
Campaigners say government ‘missed an enormous opportunity’ to reform banking