HSBC quarterly profits more than double after interest rate rises
by Kalyeena Makortoff Banking correspondent from World news | The Guardian on (#692C8)
Bank increases CEO's bonus and plans bigger shareholder payout as it faces pressure from investor Ping An
HSBC has increased bonus payouts for its chief executive after fourth-quarter profits more than doubled on the back of a jump in mortgage and loan costs for its borrowers.
The London-headquartered lender said it had increased Noel Quinn's bonus by 36% to nearly $2.2m (1.8m), taking his overall pay to $5.5m for 2022. That compares with his $4.9m payout in 2021.
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