The largest bank in Europe, HSBC Holdings, following the results of 2018, reported the growth of all indicators. Net income in the amount of 12 billion 610 million dollars showed an increase over the year by 30%. Profit before taxes increased by 16% to 19 billion 890 million dollars, not reaching expert estimates of 21 billion 410 million dollars. Revenue reached 53 billion 780 million dollars, an increase of 5%. The retail banking and wealth management division increased adjusted earnings by 9%. The profits of global banking and market solutions grew by 4%, while Private Banking increased profits by 16%.
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HSBC reports 2019 annual profit, falls 33% short of forecasts