LONDON: HSBC cut its profitability targets due to the cost of tougher global bank regulations yesterday, and disappointed investors as its 2010 earnings came in slightly below analysts' forecasts.
HSBC's pre-tax profits for the year ending Dec 31 more than doubled from 2009 to US$19bil, but this figure came in below the average pre-tax profit forecast of US$20bil, according to analysts polled by Reuters.
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