HSBC Reports Strong Full Year; Asia Business' Contribution to Operations Becoming Crucially Visible
HSBC’s full-year performance in terms of profit before tax on both a reported and adjusted basis shows visible improvement when compared with last year. On an adjusted basis, HSBC booked a one-off charge due to the sale of its Brazilian operations. Reported profit stood at USD 17.2 billion, versus USD 7.1 billion in 2016. While we will be rolling our model and plugging in full-year numbers, we are adjusting our fair value estimate to reflect the time value of money. We also maintain our narrow m...
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