HSBC to restart dividend despite 34% profits slide

clock • 2 min read

HSBC's profits fell by 34% in 2020 as the international bank pledged to invest $6bn in its Asian markets as part of a renewed pivot to its historic roots. Europe's largest bank said much of the fall was due to the impact of covid-19, trade tensions between the US and China and record low interest rates. HSBC confirmed it would restart its dividend payments at $0.15 per share in cash, representing the bank's first payout to investors since October 2019. Mark Tucker, HSBC group chairman, said this morning: "This was a difficult decision and we deeply regret the impact it has had on o...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.