HSBC Holdings, Europe's biggest bank by market value, has reported a 28 per cent increase in full-year profit, in contrast to the performance of other big British banks.
HSBC said Monday that net profit for 2011 was $16.8 billion, up from $13.2 billion and slightly ahead of market forecasts.
Net operating income was up 11 per cent to 60.2 billion, led by a 12 per cent gain in revenues in Asia.
HSBC set aside $3.4 billion for bonus payments to employees.
Shares were unchanged at 575 pence following the announcement.
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