HSBC reported profit before tax for 2016 of $7.1 billion compared with $18.87 billion the year before and below the average analyst estimate of $14.4 billion according to Thomson Reuters data.
Douglas Flint, the group`s chairman, struck an optimistic tone in a statement accompanying the results.
HSBC Holdings` 2016 pre-tax profit fell 62 percent, below analysts` estimates, as it grappled with slowing economic growth in its core markets of Hong Kong and Britain and took one-time charges related to some of its businesses.
The uncertainties created by such changes temporarily influenced investment activity and contributed to volatile financial market conditions.
"The Group has improved its productivity, embraced technological change and continues to reinforce its standards of business conduct.
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