Tumbling Profits

HSBC reported a pre-tax profit of $20.6 billion for 2012, down 6 percent from 2011.

Gross revenues rose 7 percent to $63.5 billion in 2012, over half of which came from the faster-growing areas.

HSBC raised dividends by 10 percent to $0.45 per share, and total dividends stood at $8.3 billion for 2012.

"Whilst the operating environment for financial institutions remains difficult, our core business will continue to reap the benefits of recovering economic growth in China's mainland and its positive impact on other faster-growing regions," said HSBC in a press release.

"We expect developing economies, led by China, to continue to grow briskly at 5.4 percent, while developed economies should see more gradual growth of 1 percent. We forecast growth of 8.6 percent in China in 2013."