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Scam-hit HSBC’s profit slumps by 17 percent in 2014

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10 years ago

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hsbc

London: HSBC Holdings, the Britain-based bank which is in trouble following a tax evasion scandal, Monday announced that its reported profit before tax reached $18.68 billion in 2014, down by 17 percent from the previous year.

HSBC said the primary reasons for the drop in profit were lower business disposal and reclassification gains and the negative effect, on both revenue and costs, of significant items, settlements, British customer redress and associated provisions.

Adjusted operating expenses of HSBC in 2014 were $37.854 billion, increasing by 6.1 percent from the previous year’s $35.682 billion, data showed. The bank said these were attributed to increased regulatory and compliance costs, inflationary pressures and investment in strategic initiative to support growth.

Earnings per share (EPS) and dividends per share for 2014 were $0.69 and $0.50 respectively, compared with $0.84 and $0.49 respectively for 2013, figures showed.

The group’s Common equity Tier 1 ratio (CET 1), a gauge of financial stamina, slipped to 10.9 percent at the end of December 2014, down from the 11.3 percent at the end of June 2014, figures also showed.

“2014 was a challenging year in which we continued to work hard to improve business performance while managing the impact of a higher operating cost base,” news agency quoted Stuart Guilliver, chief Executive of the group, as saying in a statement:

“Many of the challenging aspects of the fourth quarter results were common to the industry as a whole,” he added.

Earlier this month, the International Consortium of Investigative Journalists, a Washington-based publication, reported details on how HSBC’s Swiss unit handled accounts for tax evaders and criminals during the period from 2005 to 2007.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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