On February 21st, HSBC Holdings Limited released its 2023 results: In 2023, its pre tax profit increased by $13.3 billion to $30.3 billion compared to the previous year, mainly reflecting revenue growth. After tax profit increased by $8.3 billion to $24.6 billion compared to the previous year. Revenue increased by $15.4 billion to $66.1 billion, representing a 30% increase compared to the previous year.
HSBC Group CEO Qi Yaonian said, "We achieved a record breaking profit performance in 2023, allowing us to repay shareholders with the highest annual dividend since 2008. We also repurchased a total of $7 billion in shares three times last year, and will further launch $2 billion in share repurchases. These all reflect our efforts over the past four years."
In 2023, HSBC Group continued to drive regional diversification of profits in multiple markets, including seizing rapidly growing business opportunities in mainland China, India, Singapore, the United Arab Emirates, Saudi Arabia, and Mexico. The above-mentioned markets all achieved significant growth in benchmark profit in 2023, with mainland China (its own business), India, and Singapore contributing over $1 billion in profits to the group, once again proving the effectiveness of the relevant business strategies.
"We have confidence in the resilience of the Chinese economy and the medium - to long-term growth opportunities," said Qi Yaonian regarding the development prospects of the Chinese market