May 20, 2013

HSBC profits to be at highest level since recession

HSBC’s profits for the year are expected to be revealed as $23.4bn, marking the highest profit recorded by HSBC since the  start of the financial crisis.

The bank is currently entering the final year of its turnaround plan, and the expected recent record profits will come despite a near $2bn fine in relation to money-laundering as a result of a US investigation.

Reports stemming from Sky News also claim that the potential bonus for Stuart Gulliver (chief executive of the bank) could be £2m (as part of a deferred compensation package).

According to the  Huffingtonpost, HSBC has since refused to comment.

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