HSBC 2021 Results: $14.7 Billion Profit, Global Private Banking AUM at $423 Billion
26th February 2022 | Hong Kong
HSBC has released the full year results for 2021, reporting $14.7 billion in profit after tax (2020: $8.6 billion), $3 trillion of total assets, Wealth Balances of $1.67 trillion and HSBC Global Private Banking Assets of $423 billion (2020: $394 billion). In 2021, HSBC Global Private Banking generated $1.8 billion in revenue and $275 million in profit. HSBC total wealth balances grew from $1.58 trillion to $1.67 trillion with Wealth & Personal Banking generating $22.1 billion in revenue and $7 billion in profit (before tax). In 2021, wealth revenue from Asia generated $5.7 billion, Europe $2.3 billion, and MENA & Americas generated $962 million. HSBC Asset management grew assets from $602 billion to $630 billion, and reported $1.1 billion in revenue and $389 million in profit (before tax). HSBC Insurance reported $2.6 billion in revenue and $2 billion profit (before tax). See data below:
“ $14.7 Billion Profit, Global Private Banking AUM at $423 Billion “
HSBC 2021 Key Numbers
HSBC 2021 Key Numbers:
- 2021 Net Profit: $14.7 billion (2020: $8.6 billion)
- Total Assets: $3 trillion
- Total Wealth Assets: $1.67 trillion (2020: $1.58 trillion)
- Global Private Banking Assets: $423 billion (2020: $394 billion)
- Asset Management: $630 billion ($602 billion)
Wealth & Personal Banking:
- $22.1 billion revenue
- $7 billion profit before tax
- Wealth Revenue in Asia: $5.7 billion
- Wealth Revenue in Europe $2.3 billion
- Wealth Revenue MENA & Americas: $962 million
Revenue / Profit before tax
- Banking Operations $16.4 billion / $4.3 billion
- Insurance Manufacturing: $2.6 billion / $2 billion
- Global Private Banking: $1.8 billion / $275 million
- Asset Management: $1.1 billion / $389 million
Noel Quinn, Group Chief Executive:
“We made good progress against our strategy in 2021, which contributed to a strong financial performance that was supported by the global economic recovery. All of our regions were profitable and we saw growth in the fourth quarter of 2021 in many of our business lines.
We have good momentum coming into 2022 and are confident that we can continue to execute against our strategy. We also remain cognisant of the potential impact that further Covid-19-related uncertainty and continued inflation might have on us and our clients.”
HSBC:
- HSBC 2021 Results: $14.7 Billion Profit, Global Private Banking AUM at $423 Billion
- HSBC Singapore Appoints Penny Goh as Independent Chairman of Board, Succeeds Mervyn Fong
- HSBC Asset Management Appoints John Dewey as Head of Alternative Solutions with $54 Billion AUM
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- Hong Kong Announces Total 24 Banks for Wealth Management Connect, Citibank, HSBC, Standard Chartered, Hang Seng, DBS
- HSBC Appoints Michael Wong as Regional Head of UHNW Solutions Group, Investments & Wealth Solutions, Asia-Pacific
- HSBC Appoints Wei Mei Tan as Global & Asia Head of Advisory, Investments & Wealth Solutions
- HSBC Raised $3.2 Billion in Alternative Investments in 2022 & Hedge Funds, Private Markets & Real Estate
- HSBC Receives Approval to Acquire 100% of HSBC Life China
- HSBC Fined $85 Million for Failure in Anti-Money Laundering Processes
- HSBC Global Private Banking 2022 Investment Outlook: The Big Reset
- $481 Billion Apollo Capital Management Hires HSBC Private Bank Edward Moon as Head of Asia-Pacific Global Wealth
- European Commission Fines UBS, Barclays, RBS, HSBC & Credit Suisse $389 Million for FX Spot Trading Cartel
- HSBC Opens New Hong Kong Wealth & Para-Medical Centre for HNW Clients at K11 ATELIER Victoria Dockside
- HSBC Private Bank Launches eSignature for New Clients to Open Accounts Online in Asia
- HSBC Trustee with $200 Billion Assets Celebrates 75th Anniversary in Asia, Plants 7500 Tree Seedlings in Malaysia to Restore Rainforest
- HSBC Private Bank: 2021 Q4 Investment Outlook – Slower But Steady Wins the Race
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