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| Version 1 | Version 2 |
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| HSBC misses forecasts but bankers bonus pool rises | HSBC misses forecasts but bankers bonus pool rises |
| (about 5 hours later) | |
| Shares in HSBC fell more than 4 per cent in early trade after the Asia-focused group missed profit expectations. | Shares in HSBC fell more than 4 per cent in early trade after the Asia-focused group missed profit expectations. |
| Europe's biggest bank reported a 9 per cent increase in pre-tax profits to $22.6 billion (£13.6bn), up from $20.6 billion in 2012, but missed analyst forecasts of $24.7 billion as it warned of further volatility and "choppy markets". | |
| Chief executive Stuart Gulliver said: "We are a very complicated company to try and estimate our results. Only one analyst in the world — BNP’s in Hong Kong — got them bang on." | Chief executive Stuart Gulliver said: "We are a very complicated company to try and estimate our results. Only one analyst in the world — BNP’s in Hong Kong — got them bang on." |
| Gulliver is set to receive a total pay package worth just over £8 million for 2013, up from £7.5 million. The bank said it increased its bonus pool for top staff by 6 per cent to $3.9 billion (£2.3 bn). It added 239 employees took home £1 million or more last year. | |
| The bank has axed more than 40,000 jobs over the past three years to 254,000 at the end of 2013 and has closed more than 60 non-core businesses in a bid to slash costs. | The bank has axed more than 40,000 jobs over the past three years to 254,000 at the end of 2013 and has closed more than 60 non-core businesses in a bid to slash costs. |
| Gulliver rejected any suggestion that HSBC might float off its UK business and added that it was not looking at moving its headquarters away from London to Hong Kong. | Gulliver rejected any suggestion that HSBC might float off its UK business and added that it was not looking at moving its headquarters away from London to Hong Kong. |
| He said underlying profits had risen at three of the bank’s four divisions; the only fall came in global private banking. Latin America was the only region to show a fall in profits. | He said underlying profits had risen at three of the bank’s four divisions; the only fall came in global private banking. Latin America was the only region to show a fall in profits. |
| HSBC shares fell 29.2p to 625p. | HSBC shares fell 29.2p to 625p. |