Agencies and staff reporter

HSBC (0005) posted a 6.5 percent rise in pre-tax profit to US$32.3 billion (HK$251.9 billion) last year, marginally beating estimates, as income withstood the impact of falling interest rates and plans to save US$1.8 billion in costs by the end of next year.

The lender declared a fourth interim dividend of 36 US cents, bringing the total payout to 87 US cents for the year, both higher than estimates. The full-year distribution included a special dividend of 21 US cents for the disposal of its Canadian business.

It also announced a new US$2 billion share buyback which is set to be completed before the next earnings filing.