Profit before tax amounted to $19.04bn compared to $7.08bn prior year.
For the fiscal year 2010, net interest income slipped to $39.44bn from $40.73bn in 2009.
Net operating income before loan impairment charges and other credit risk provisions of $68.25bn was $2.06bn, or 3.1%, higher than 2009.
Total operating expenses of $37.68bn rose by $3.29bn, or 9.6%, compared with 2009. On an underlying basis operating expenses were up 8% compared with 2009.
HSBC’s cost efficiency ratio was 55.2% compared with 52% in 2009.
Loan impairment charges and other credit risk provisions were $14.04bn in 2010, $12.45bn lower than 2009.
The core tier 1 ratio and tier 1 ratio for the Group remained strong at 10.5% and 12.1%, respectively, at 31 December 2010.
The Group’s total assets at 31 December 2010 were $2.455 Trillion, an increase of $91bn, or 3.8%, since 31 December 2009.
