HSBC HSBC, Europe's biggest bank, has reported pre-tax profits of $19bn (£11.8bn) for 2010, more than double the $7.1bn figure for 2009.HSBC said it has been profitable in every customer group and region for first time since 2006.Unlike rival banks Lloyds and RBS, HSBC survived the financial crisis without receiving direct government support.
HSBC did cut its return on equity target, a measure of profitability, citing tougher capital requirement regulations.Earlier in February rival banking group Barclays reported pre-tax profits of £6.07bn for 2010.
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