We have to mention that the cost estimates for 2022 have increased to $ 32 billion from $ 31 billion. This is mainly due to inflation, labor costs rose by $ 19 billion. Compared to the previous year, the profit jumped by 75.8%. Prior to disclosure, year-over-year growth in reported pre-tax profit was estimated to be 22.8% higher to $ 3.776 billion.

Shares of HSBC in Hong Kong closed 0.43% higher on Monday. Despite some external factors and concerns, HSBC released $ 700 million in cash, which it set aside in case the bad loans related to the pandemic increased. The bank's capitalization has improved and economic conditions are positive, loans have performed better than expected, the bank said.

Performance of HSBC over 5 years (Source: Investing.com)