HSBC reports FY22 EPS 74c vs. 62c last year

Reported profit before tax fell by $1.4bn to $17.5bn, including an impairment on the planned sale of our retail banking operations in France of $2.4bn. Adjusted profit before tax increased by $3.4bn to $24.0bn. Reported profit after tax increased by $2.0bn to $16.7bn. Reported revenue increased by 4% to $51.7bn. Net interest margin of 1.48% increased by 28 basis points. Common equity tier 1 capital ratio of 14.2% reduced by 1.6 percentage points. Noel Quinn, Group CEO, said: "2022 was another good year for HSBC. We completed the first phase of our transformation and our international connectivity is now underpinned by good, broad-based profit generation around the world. This contributed to a strong overall financial performance. We are on track to deliver higher returns in 2023 and have built a platform for further value creation. With the delivery of higher returns, we will have increased distribution capacity, and we will also consider a special dividend once the sale of HSBC Canada is completed."