HSBC Holdings (HSBC, Financial), the London-based bank, announced plans to keep its bonus pool for 2024 at least equivalent to last year's $3.8 billion. In the first three quarters of 2024, the bank has allocated $300 million more for performance-related pay compared to the same period last year. This year's total bonus pool is expected to remain largely in line with 2023, which marked a decade high for the bank.
According to the latest financial reports, the increase in the bonus pool, alongside inflation pressures and continued investment in technology, has led to a slight rise in HSBC's operating expenses for the first three quarters of the year. The bank maintains its forecast of about a 5% increase in operating costs for the full year of 2024.
