Staff reporter and Reuters

HSBC's (0005) pre-tax profit is projected to rise nearly 6 percent to US$32.1 billion (HK$250.38 billion) last year with a 10 percent rise in the final dividend.

The projection came amid news that the lender is letting go of almost 40 investment bankers in Hong Kong.

HSBC, scheduled to release its earnings tomorrow, is expected to raise the final dividend to 34 US cents, bringing the total payout for the year up by nearly 40 percent to 84 US cents.