HSBC announce mixed 2009 results

But the mood at this morning's announcement was positive, with chairman Stephen Green confident HSBC's good housekeeping practices - which meant it needed no government bail-outs during the financial crisis - will see it grow its business over the next few years, particularly in Asia.

Mr Green confirmed the bank will remain in its Canada Square headquarters, despite chief executive Michael Geoghegan relocating to Hong Kong last month to oversee its expansion in the Far East.

Mr Green said: "When we asked Michael to move to Hong Kong we were very keen to remain legally domiciled in the UK. It's very important to us.

"We don't take London's status in the world for granted but it still has a major role in the financial market. We review where we are based every three years - looking at things like the tax environment and time zones and we feel the UK is still the best place for us."

HSBC's strong performance last year was driven by the success of its investment banking business. Stuart Gulliver, head of global banking and markets, pocketed a bonus of around £9million, although other senior executives, notably, Mr Geoghegan have donated their bonuses to charity.