That was up 78% on a year ago - but still missed analyst forecasts.
Wednesday's earnings numbers show the firm was hit by a $3 billion charge over its stake in Chinese lender Bank of Communications.
That followed a downbeat review of its likely future cash flows amid China's wobbly recovery.
HSBC Chairman Mark Tucker called the country's economic performance "bumpier than expected".
The news saw the bank's Hong Kong shares slide over 3% in afternoon trade.
Even so, it plans to reward investors with a fresh $2-billion share buyback, and says it will consider a special dividend.
Staff are in line for a boost too, with the bank set to increase its bonus payouts.
Chief Executive Noel Quinn saw his total remuneration almost double to $10.6 million, as long-term incentives kicked in.
Looking ahead, HSBC says it remains cautious about the outlook for lending this year, with many key markets still battling inflation and slow growth.
The bank itself saw costs rise more than expected last year, and says they'll be up sharply again in 2024.
