HSBC Bangladesh's profit rose 9 percent year-on-year to Tk 1,086.13 crore in 2024, thanks to an increase in interest income.

The lender earned Tk 1,908.42 crore in interest income during 2024, reflecting a 12 percent increase from the previous year.

However, its total operating expenses surged to Tk 1,051.51 crore, significantly up from Tk 697.84 crore in 2023, according to the bank's audited financial statements.

In 2023, the global bank made a profit of Tk 999 crore, posting a 70 percent year-on-year rise.

"Our strategy is working, and our strong performance over the last year is evidence of this," HSBC Bangladesh said in an email reply today.

"HSBC is a highly connected, global business, and this remains our biggest strength."

The bank formally launched its operations in Bangladesh on December 3, 1996, with the opening of its first branch at Anchor Tower in Dhaka.

Since then, HSBC has grown into one of the leading international banks operating in the country.