HSBC Posts Lower 2012 Net Profit, Lifts Dividend

HSBC Holdings HBC reported a drop in its 2012 net profit. HSBC's net profit for the period fell to $14.02 billion, from $16.8 billion, in the year-ago period. Its adjusted earnings declined 6% to $20.6 billion. However, analysts were expecting a profit of $22.7 billion. Its revenue climbed 7% to $63.5 billion. It also lifted its final dividend for the year by 29% to $0.18 per share. HSBC shares closed at $54.83 on Friday.