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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/hsbc-bank-profits-more-than-double.jpg"><img class="alignnone size-full" title="HSBC has reported its profits more than doubled in 2010 to 19 billion US dollars (11.8 billion pounds)" src="http://londonglossy.com/wp-content/uploads/2011/02/min-hsbc-bank-profits-more-than-double.jpg" alt="HSBC has reported its profits more than doubled in 2010 to 19 billion US dollars (11.8 billion pounds)"/></a></p>
<p>HSBC has reported its profits more than doubled in 2010 to 19 billion US dollars (£11.8 billion), with every region in the black for the first time since 2006.</p>
<p>The banking giant&#8217;s result marks a sharp rise on the 7.1 billion dollars (£4.4 billion) posted in 2009 as it continues to benefit from lower bad debt losses.</p>
<p>But HSBC&#8217;s new chairman Douglas Flint said the group will &#8220;not forget&#8221; the financial crisis and support from governments around the world, adding the group entered 2011 &#8220;with humility&#8221;.</p>
<p>HSBC revealed that new chief executive Stuart Gulliver &#8211; formerly head of the investment bank &#8211; was awarded a £5.2 million bonus for 2010, taking his total package for the year to £6.2 million.</p>
<p>The bank&#8217;s former boss Michael Geoghegan &#8211; who stepped down as chief executive on December 31 &#8211; picked up a £3.8 million bonus and a total package of £5.8 million for the year.</p>
<p>He will continue to work for the group until he retires on March 31, and will be paid more than £1.4 million in pay and pension this year.</p>
<p>Mr Geoghegan is also entitled to £200,000 for three months&#8217; consultancy work after he retires, although he will donate this to charity.</p>
<p>The group confirmed Mr Gulliver will take his 2010 annual bonus in deferred shares.</p>
<p>HSBC said Mr Gulliver&#8217;s bonus reflects &#8220;strong achievements&#8221; in his former role, despite seeing a slight drop in profits in his division.</p>
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