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HSBC Press Releases |
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31st December, 2002
HSBC Bank Malta plc Preliminary Profit Statement for the year ended 31 December 2002
HSBC Bank Malta plc Preliminary Profit Statement for the year ended 31 December 2002
The following is the text of an advertisement which is to be published in the press in Malta on 15 February by HSBC Bank Malta p.l.c., a 70.03 per cent indirect subsidiary of HSBC Holdings plc.
(Published in terms of Section 6.05.06 (iii) of the Bye Laws of the Malta Stock Exchange)
Group
Bank
2002
2001
2002
2001
Lm000
Lm000
Lm000
Lm000
Interest receivable and similar income
76,105
82,588
71,807
76,571
Interest payable
(42,778)
(51,721)
(44,612)
(52,681)
Net interest income
33,327
30,867
27,195
23,890
Other net operating income
18,282
20,424
14,004
17,227
Total operating income
51,609
51,291
41,199
41,117
Operating expenses
(28,588)
(29,385)
(27,265)
(27,713)
Net amortisation of goodwill
(291)
(287)
(205)
(205)
Operating profit before impairment losses and provisions
22,730
21,619
13,729
13,199
Net impairment losses
(1,515)
(5,842)
(1,960)
(5,670)
Provisions for contingent liabilities and other charges
(89)
(15)
(89)
(15)
Profit on ordinary activities before tax
21,126
15,762
11,680
7,514
Tax on profit on ordinary activities
(5,762)
(2,520)
(3,944)
(2,582)
Profit for the financial year attributable to shareholders
15,364
13,242
7,736
4,932
Earnings per share
42.1c
36.3c
21.2c
13.5c
Dividends, net of income tax
5,027
3,083
5,027
3,083
Exchange rates ruling on 31 December 2002 against the Maltese Lira were as follows:
GBP1.5555
EUR2.3908
USD2.5090
Group
Bank
Balance sheet extracts as at
31/12/02
31/12/01
31/12/02
31/12/01
(Figures in Lm millions)
Total assets
1,570
1,456
1,535
1,409
Loans and advances to customers
891
878
763
733
Amounts owed to customers
1,303
1,223
1,299
1,069
Shareholders'funds
117
104
117
104
Review of group performance
The published figures have been extracted from HSBC Bank Malta's group audited accounts for year ended 31 December 2002 as approved by the Board of Directors on 14 February 2003
In 2002, HSBC Bank Malta and its subsidiaries generated a profit on ordinary activities before tax of Lm21.1 million which represents an increase of Lm5.4 million, or 34.0 per cent when compared to the profit for the year ended 31 December 2001.
Profit attributable to shareholders was Lm15.4 million, an increase of Lm2.1 million (16.0 per cent) over the previous year.
Net interest income of Lm33.3 million was Lm2.5 million or 8.0 per cent higher, when compared to 2001 ...
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31st December, 2002
HSBC Bank Canada - fourth quarter 2002 results
HSBC Bank Canada - fourth quarter 2002 results
Highlights
Net income* was C$260 million for the year ended 31 December 2002, an increase of 21.5 per cent from C$214 million in the same period of 2001.
Net income* was C$65 million for the quarter ended 31 December 2002, an increase of 27.5 per cent from C$51 million in the fourth quarter of 2001.
Return on average common equity was 16.4 per cent for the year ended 31 December 2002 and 15.9 per cent for the quarter ended 31 December 2002 compared to 14.9 per cent and 13.3 per cent, respectively, for the same periods in 2001.
The cost:income ratio was 56.4 per cent for the year ended 31 December 2002 and 57.7 per cent for the quarter ended 31 December 2002, compared with 60.0 per cent and 64.0 per cent for the respective periods in 2001.
Total assets of C$35.2 billion at 31 December 2002 compared to C$33.3 billion at 31 December 2001.
Total assets under administration were C$15.1 billion at 31 December 2002, of which C$11.9 billion were funds under management and C$3.2 billion were custody and administration accounts.
*HSBC Bank Canada acquired Merrill Lynch HSBC Canada Inc ...
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31st December, 2002
Saudi British Bank 2002 annual results – highlights
Saudi British Bank 2002 annual results – highlights
The following news release was issued today by The Saudi British Bank, a 40 per cent indirectly-held associate of HSBC Holdings plc.
Net profit of SAR972 million (US$259 million) for the year ended 31 December 2002 – up SAR142 million (US$38 million) or 17.1 per cent over 2001.
Earnings per share of SAR24.31 (US$6.48) for the year ended 31 December 2002 – up 17.1 per cent from SAR20.75 (US$5.53) over 2001.
Customer deposits of SAR35.0 billion (US$9.3 billion) at 31 December 2002 – up SAR3.5 billion (US$0.9 billion) or 11.1 per cent over 31 December 2001.
Loans and advances to customers of SAR20.4 billion (US$5.4 billion) at 31 December 2002 – up SAR4.4 billion (US$1.2 billion) or 27.5 per cent over 31 December 2001.
Total assets of SAR46.2 billion (US$12.3 billion) at 31 December 2002 – up SAR4.3 billion (US$1.1 billion) or 10.3 per cent over 31 December 2001.
Commentary
The Saudi British Bank (SABB) recorded a net profit of SAR972 million (US$259 million) for the year ended 31 December 2002 ...
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30th December, 2002
HSBC launches internet banking in mainland China
HSBC launches internet banking in mainland China
30 December 2002
HSBC has today launched its internet banking service in mainland China, becoming the first foreign bank to offer online banking to local citizens and international customers in the Mainland.
Dicky Yip, Chief Executive China Business at The Hongkong and Shanghai Banking Corporation Limited, said: “The launch of internet banking services here has opened a new chapter for HSBC’s personal financial services in mainland China ...
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20th December, 2002
HSBC to acquire Keppel Insurance
HSBC to acquire Keppel Insurance
20 December 2002
HSBC Insurance (Asia-Pacific) Holdings Limited has today entered into an agreement to acquire 100 per cent of Keppel Insurance Pte Limited from its shareholders Fortis Far East NV, Keppel Capital Holdings Limited and Kephinance Investment Pte Limited ...
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20th December, 2002
Household acquisition: HSBC files Registration Statement with the SEC
Household acquisition: HSBC files Registration Statement with the SEC
20 December 2002
HSBC Holdings plc ("HSBC")
Proposed Acquisition of Household International, Inc ("Household")
On 14 November 2002, HSBC announced that agreement had been reached for HSBC to acquire Household. In connection with the proposed acquisition, HSBC has today filed with the Securities and Exchange Commission in Washington DC a Registration Statement on Form F-4. The Merger Agreement entered into by HSBC, Household and a wholly owned subsidiary of HSBC is included as an attachment to the Preliminary Proxy Statement / Prospectus included in the Registration Statement.
Shareholders should be aware that the Registration Statement on Form F-4 filed today and the Preliminary Proxy Statement / Prospectus contained therein are subject to changes, deletions or additions which may or may not be material in nature. Such changes, deletions or additions can be made at any time until the Registration Statement is declared effective and the definitive Proxy Statement / Prospectus is mailed to Household stockholders (in connection with the seeking of their approval of the transaction) which will not occur until the New Year and even thereafter can be amended or supplemented at any time until the Household stockholder meeting to vote on the merger is held. Any changes to the information contained in the Registration Statement are not required to be announced. No reliance should therefore be placed on the information contained in the Registration Statement filed today.
A circular will be dispatched to HSBC shareholders giving further details of the acquisition and convening an extraordinary general meeting to approve the acquisition. This will contain the information necessary for HSBC shareholders to consider the transaction and will be prepared in accordance with the listing rules of the UK Listing Authority and the Hong Kong Stock Exchange. It is envisaged that this circular will be dispatched at or around the same time as the definitive Proxy Statement / Prospectus is mailed to Household stockholders.
Copies of this Registration Statement will be available on the SEC website at www.sec.gov/edgar.shtml under HSBC's company filings and on www.hsbc.com ...
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17th December, 2002
HSBC bond issue
HSBC bond issue
17 December 2002
HSBC Holdings plc has launched and priced a three-tranche subordinated debt issue to raise the equivalent of US$3.4 billion. The three tranches are:
US$1.4 billion 5.25% Subordinated Notes due 2012
EUR1 billion 5.375% Subordinated Notes due 2012
£650 million 5.75% Subordinated Notes due 2027
The US$ issue closed on 12 December 2002 and the euro and sterling issues close on 20 December 2002.
The proceeds of the issue will be used to strengthen further the capital base of HSBC Holdings plc and provide additional funds for the holding company following the acquisitions of 99.59 per cent of Grupo Financiero Bital S.A ...
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16th December, 2002
HSBC conference call
HSBC conference call
16 December 2002
Douglas Flint, Group Finance Director, HSBC Holdings plc, hosted a conference call at 16:00 (London time) on 13 December 2002 on the agreement reached with Household International, Inc ...
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11th December, 2002
HSBC re-capitalises GF Bital
HSBC re-capitalises GF Bital
11 December 2002
Shareholders meetings took place for Grupo Financiero Bital S.A. de C.V. (“GF Bital”) and its subsidiary Banco Internacional S.A. on 5 December 2002 in Mexico ...
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25th November, 2002
HSBC completes acquisition of GF Bital
HSBC completes acquisition of GF Bital
25 November 2002
HSBC Holdings plc (HSBC) has completed the acquisition of Grupo Financiero Bital S.A. de C.V. (GF Bital) with the close of its cash tender offer to acquire all of the outstanding shares in GF Bital.
The offer expired at 15:45 p.m., Mexico City time, on Friday, 22 November 2002 ...
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