The bank's profits fell to Stg 4.7 billion after the value of its debt declined, though its underlying profits rose by 56% to Stg 8.8 billion, the BBC reports
The bank's chief, Michael Geoghegan, plans to give his bonus to charity, though a number of other senior executives will keep their bonuses totalling Stg 31 million.
HSBC chairman Stephen Green is defending the payout, but says the bank will overhaul its pay policies and plans to raise basic salaries to lessen the amount of bonuses paid.
