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HSBC beats estimates with $8.8 billion in pre-tax profit for 2020; resumes dividend payment – CNBC

HSBC said its reported profit before tax for 2020 fell 34% from a year ago to $8.8 billion

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HSBC on Tuesday said its reported profit before tax for 2020 fell 34% from a year ago to $8.8 billion, and declared an interim dividend of 15 cents per share.
The bank’s profit beat analyst expectations of $8.3 billion for the whole of last year, according to estimates compiled by the London-headquartered bank.
Ahead of the earnings release, HSBC shares in Hong Kong jumped 3% in early Tuesday trade.
Like many of its peers globally, HSBC last year built up provisions for potential loan losses as…

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