HSBC Holdings' bankers are expected to enjoy a substantial bonus pool this year, forecasted to match or exceed the $3.8 billion recorded last year. The bank has announced an additional $300 million in performance-related compensation for the first nine months compared to the same period last year.
HSBC stated that the total employee bonuses for this year will be roughly equal to those distributed in 2023, which marked the highest level in a decade. The company's latest earnings report indicates a slight increase in operating expenses for the first three quarters, attributed to the expanded bonus pool, inflation, and ongoing technological investments.
Despite these increases, HSBC is maintaining its guidance for approximately 5% cost growth for the full year of 2024.
