Postmen 'struggling under weight' of 3lb banking report

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The 454-page volume weighs no less than 3lb, more than the average phone book and so heavy that the Royal Mail is limiting the number its employees may carry to prevent back injuries.

HSBC said its 454-page report had grown in size since its adoption of new international accounting standards and a series of acquisitions in emerging markets and the United States.

The bank has sent out the full report to just 10,000 of its 120,000 UK based shareholders who requested the document, although all the firm's shareholders receive a more manageable 48-page annual review of the company's business.

Under health and safety regulations, Royal Mail delivery workers are allowed to carry 16kg in their first bag - equivalent to just over 10 of HSBC's annual reports - while subsequent bags must weigh no more than 11kg.

An HSBC spokesman said it was "unlikely" postal workers were struggling to cope with the delivery of its annual report.

He said that the report was printed on paper from sustainable sources and that the most recent documents were available on the company's website.

A Royal Mail spokesman added: "We carry 83 million items every day, including large mailings and we are perfectly used to dealing with them.

"Individual bags have a limit on them, but our postmen and women will carry more than one bag in a day."

The HSBC spokesman said that in 2001, its annual report came in at a more modest 284 pages. But it now contains explanations of the new International Financial Reporting Standards, which came into force in the European union in 2005.

The bank has also made a series of acquisitions since 2001 including the move for US sub-prime lender Household in 2003.

HSBC also increased its presence in emerging markets with the acquisition of Panama's Banistmo last year.

The spokesman added: "When you look at the size of our growth in the past five years we are a different company. We are now in 82 countries and that accounts for the size of the annual report."

In March, HSBC reported pre-tax profits up 5% to 22.09 billion US dollars (£11.48 billion) for 2006.