FX.co ★ HSBC's profits rise by more than 140% in 2017

HSBC, Europe’s largest bank, said its pre-tax profit jumped to $17.17 billion in 2017 compared with $7.1 billion seen a year before, but below an estimated $19.67 billion expected by analysts.

The bank took a one-off charge of $1.3 billion as a result of President Trump's tax reforms.

The lender said it plans to issue between $5 billion and $7 billion of additional Tier 1 capital during the first half of 2018.

HSBC said its policy is to consider share buybacks “when appropriate.”

Tier 1 ratio, the measure of a bank's financial strength, came in at 14.5% last year, compared with 13.6% in 2016 and 11.9% in 2015. Adjusted revenue for 2017 was $51.4 billion versus $48 billion in the previous year.

HSBC's investment banking unit also boosted revenue by 3%, which is a good result, taking into account the market environment during 2017, which weighed on banks' incomes from bond trading.