RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Injustice: HSBC pays $4.2bn for fines and mis-selling in 2012 Mon Mar 04, 2013 7:05 pm | |
| HSBC paid out $4.2bn (£2.8bn) last year to cover the cost of past wrongdoing.
As well as $1.9bn in fines for money laundering, the bank also set aside another $2.3bn for mis-selling financial products in the UK.
The figures came as HSBC reported rising underlying profitability and revenue in 2012, and an overall profit before tax of $20.6bn.
Chief executive Stuart Gulliver's total remuneration for 2012 was some $7m, compared with $6.7m the year before.
And after taking account of the deferral of pay this year and in more highly-remunerated years previously, Mr Gulliver actually received $14.1m in 2012, up from $10.6m in 2011.
http://www.bbc.co.uk/news/business-21653131 |
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