LONDON -- HSBC has advanced 29% to 682 pence during the last 12 months, making the share one of the best performers in the FTSE 100.
The bank, which boasts 7,200 offices in more than 80 countries, seems to have impressed investors with a series of confident statements.
During July, HSBC announced half-year results for 2012 that showed core profits slip 3% to $10.6bn. The group added that its return on average shareholders' equity during the six months was 10.5% and admitted it had earmarked $1.3bn to compensate U.K. customers that were mis-sold payment protection insurance.
During November, HSBC's third-quarter statement revealed adjusted profits had surged 125% to $5bn, and cost savings had reached $3.1bn to exceed the bank's expectations. However, the results also showed an additional $800m provision relating to a money-laundering investigation in the States.
Then in March, HSBC disclosed full-year results that showed underlying profits up 18% to $18.4bn and an annual dividend up 10% to $0.45 per share. The bank also revealed its first three quarterly dividends of 2013 would be raised 11%.
Douglas Flint, HSBC's chairman, said at the time:
2012 was a year of considerable progress in delivering on the strategic priorities which the Board has tasked management to address. Our decision to focus on reshaping the Group through targeted disposals and closures and internal reorganisation is paying dividends.
Flint also referred to the bank's position as one of the FTSE 100's highest dividend payers.
HSBC's first-quarter update will be published on 7 May, which may reveal further positive news that can impress investors.
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The article Why HSBC Holdings Is Up 29% During the Last 12 Months originally appeared on Fool.com.
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