<div id="readability-page-1">HSBC Holdings (HSBA.L) lifted a key earnings target after its annual profit beat expectations, a decision which reflects that most of the bank’s planned overhaul has now been completed and further growth is in its sights.Buffeted by $4.9 billion in one-off charges, Europe’s largest lender’s pretax profit slipped 7 per cent to $29.9 billion last year. That was, however, about $1 billion ahead of a consensus forecast and comes after an unusually...</div>

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<p>HSBC Holdings (HSBA.L) reported a pretax profit of $29.9 billion for the last year, a 7% decline due to $4.9 billion in one-off charges, yet exceeding forecasts by $1 billion. The bank has raised its key earnings target, indicating that its major overhaul is largely complete and it is poised for further growth.</p>

- HSBC Holdings (HSBA.L) raised its earnings target following an annual profit that exceeded expectations, signaling the completion of its planned overhaul.  
- Despite facing $4.9 billion in one-off charges, the bank reported a pretax profit of $29.9 billion last year, which was $1 billion higher than the consensus forecast.  
- This performance indicates potential for further growth for Europe’s largest lender moving forward.

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Europe’s biggest bank beats forecasts despite $5 billion charges