The lender, which earns most of its revenue in Asia and Africa, also saw its full-year operating income grow by seven percent year on year to US$20.9 billion.
Profits picked up in the final quarter, rising by two percent year on year to US$814 million, though that was lower than analysts’ expectations of US$1.06 billion.
The full-year pre-tax profits also missed the US$7.2 billion average of 16 analyst estimates compiled by the lender.
In a statement, chief executive Bill Winters said the bank saw strong momentum last year, with its adjusted return on tangible equity, a gauge of profitability, hitting 14.7 percent for the full year, exceeding its 13 percent target.
“We have made a good start to the year and continue to benefit from a supportive business environment,” he said.
“We are seeing robust growth in our larger markets, and structural shifts in global trade and investment play to our distinctive strengths serving our clients’ cross-border and affluent banking needs.”
The emerging market-focused lender proposed a final dividend of 49 US cents per share, bringing the full-year total to 61 US cents per share, up by 65 percent from a year earlier.
The bank also announced it was launching a new share buyback of US$1.5 billion, which it said would be “commenced imminently”.
Looking ahead, it said it sees reported operating income growth year on year to be around the bottom end of five to seven percent range at constant currency. (Additional reporting by Reuters)
Edited by Thomas McAlinden
