Summary by Futu AI
HSBC Holdings Limited posted a record profit performance in 2023 and on February 21, 2024 announced the highest annual dividend since 2008, and announced a further repurchase of up to $20 billion in shares. The company's financial performance for 2023 showed a $133 billion increase in pre-tax profit to $303 billion, mainly reflecting revenue growth, including a $25 billion favorable impact from the sale of its French retail banking business and a tentative gain of $16 billion confirmed by the acquisition of Silicon Valley Bank in the United Kingdom. However, due to the valuation revaluation of the investment value of Joint-venture Transport Bank Corporation Limited, confirmation of the write-down of USD 30 billion, caused the above increase to be partially offset. HSBC Holdings Board members include Du Jia-Kei (Group Non-Executive Chairman) and several independent non-executive directors. The Group's Chief Executive Officer, Kai Yao Yao, said that the Group will strive to seize growth opportunities and improve profitability, while striving to achieve a return target of around 15% by 2024.