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 Injustice: HSBC pays $4.2bn for fines and mis-selling in 2012

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RR Phantom

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Injustice: HSBC pays $4.2bn for fines and mis-selling in 2012 Vide
PostSubject: Injustice: HSBC pays $4.2bn for fines and mis-selling in 2012   Injustice: HSBC pays $4.2bn for fines and mis-selling in 2012 Icon_minitimeMon Mar 04, 2013 7:05 pm
HSBC paid out $4.2bn (£2.8bn) last year to cover the cost of past wrongdoing.

Injustice: HSBC pays $4.2bn for fines and mis-selling in 2012 6619094966190944



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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