HSBC reports FY24 EPS $1.24 vs. $1.14 last year

Reports FY24 revenue $65.85B vs. $64.91B last year. Constant currency revenue excluding notable items rose by $2.9B to $67.4B. Profit before tax rose by $2.0B to $32.3B, including a $1B net favorable impact from notable items. Net interest income decreased by $3.1B. CEO Georges Elhedery said: “Our strong 2024 performance provides firm financial foundations upon which to build for the future, as we prioritize delivering sustainable strategic growth and the best outcomes for our customers. Since becoming CEO, I have focused on simplifying how we operate and injected energy and intent into the way we deliver our strategy. We are creating a simple, more agile, focused bank built on our core strengths. We continue to take deliberate and decisive steps. This includes creating four complementary, clearly differentiated businesses, aligning our structure to our strategy and reshaping our portfolio at pace and with purpose. I have put in place a smaller, core team of exceptionally talented leaders driven by a growth orientated mindset and a firm focus on dynamically managing our costs and capital. We are embedding this approach across the organization to ensure we are continually focused on these two important principles. Each targeted action we are taking is designed to unlock HSBC‘s (HSBC) full potential. We look to the future with confidence and clarity of purpose.”