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HSBC Press Releases |
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20th May, 2008
HSBC Trinkaus & Burkhardt AG first quarter 2008 results
20 May 2008
The following text is the English version of a news release issued in Germany by HSBC Trinkaus & Burkhardt, a 78.6 per cent indirectly owned subsidiary of HSBC Holdings plc.
First quarter 2008 operating profit of €52.2 million
Net profit after tax for the period of €34.6 million
38% increase in net interest income to €28.3 million
Overview
Despite the continuing turbulence in global capital markets, the bank reported an operating profit of €52.2 million (Q1 2007: €61.5 million) and net profit after tax of €34.6 million (Q1 2007: €41.5 million) for the first quarter of 2008 ...
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19th May, 2008
HSBC to acquire 73.21 per cent of IL & FS Investsmart in India
19 May 2008
*** An investment in one of India's leading retail brokerages ***
*** Gains a foothold in a market with 20 million retail investors ***
HSBC, through Group subsidiaries, is to acquire 73.21 per cent of IL&FS Investsmart Limited ("Investsmart"), a leading retail brokerage house in India.
Under the terms of the agreements, HSBC proposes to acquire a 43.85 per cent stake from E*TRADE Mauritius Limited, an indirectly wholly-owned subsidiary of E*TRADE Financial Corporation, and an additional 29.36 per cent from Infrastructure Leasing and Financial Services Limited ("IL&FS") ...
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16th May, 2008
HSBC Bank Malta plc Interim Directors' Statement
16 May 2008
HSBC Bank Malta plc (HSBC Malta) is required to publish the following Interim Directors' Statement covering the period from 1 January 2008 to 16 May 2008 (the date of the Statement) under Listing Rules 9.51 and 9.53 of the Malta Financial Services Authority.
HSBC Bank Malta plc has recorded satisfactory progress for the period 1 January 2008 to 16 May 2008 ...
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12th May, 2008
HSBC Holdings plc Interim Management Statement
12 May 2008
HSBC has made a strong start to the year despite the turbulence in global financial markets. In the first quarter of 2008, HSBC's profit was ahead of the equivalent period last year.
Group Chairman Stephen Green said "Our performance so far in 2008 demonstrates that HSBC's business resilience in difficult financial markets, our global distribution network, diversified earnings streams and strong capital position are allowing us to support our customers in today's challenging market conditions ...
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9th May, 2008
HSBC Bank Malaysia Berhad results for the first quarter 2008 - highlights
9 May 2008
Profit before taxation for the first quarter of 2008 was MYR348 million, 13.0 per cent higher than the MYR308 million reported for the same period in 2007.
Profit before allowance for losses on loans and financing increased by 25.7 per cent to MYR397 million for the three months ended 31 March 2008 compared with MYR316 million for the same period in 2007, mainly attributable to higher other operating income.
Other operating income in the first quarter of 2008 was up 49.2 per cent to MYR303 million (MYR203 million for the same period in 2007) as trading profits rose as a result of increased hedging activities by corporate customers stemming from the volatility of the Malaysian ringgit against other major currencies.
Allowance for losses on loans and financing of MYR49 million was up MYR41 million for the three months ended 31 March 2008 due to a lower rate of recoveries than in the same period in 2007.
Cost efficiency ratio for the three months ended 31 March 2008 improved to 38.1 per cent from 40.6 per cent for the corresponding period in 2007.
Total assets of MYR50.3 billion up MYR2.2 billion, or 4.4 per cent, at 31 March 2008 compared with MYR48.1 billion at 31 December 2007.
HSBC Bank Malaysia Berhad posted strong growth in revenue of 17.6 per cent and profit before allowance for losses on loans and financing of 25.7 per cent for the three months ended 31 March 2008 compared to the corresponding period last year ...
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6th May, 2008
HSBC Bank Canada first quarter 2008 results - highlights
6 May 2008
Net income attributable to common shares was C$155 million for the quarter ended 31 March 2008, an increase of 11.5 per cent over the same period in 2007.
Return on average common equity was 21.2 per cent for the quarter ended 31 March 2008 compared with 22.0 per cent for the same period in 2007.
The cost efficiency ratio was 48.7 per cent for the quarter ended 31 March 2008 compared with 52.2 per cent for the same period in 2007.
Total assets were C$66.5 billion at 31 March 2008 compared with C$60.9 billion at 31 March 2007.
Total funds under management were C$26.3 billion at 31 March 2008 compared with C$25.1 billion at 31 March 2007.
Results are prepared in accordance with Canadian generally accepted accounting principles.
Overview
HSBC Bank Canada recorded net income attributable to common shares of C$155 million for the quarter ended 31 March 2008, an increase of C$16 million, or 11.5 per cent, from C$139 million for the first quarter of 2007 ...
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1st May, 2008
HSBC opens new North American Headquarters in "green" building
01 May 2008
The company implements extensive environmental measures to reduce carbon footprint
HSBC, one of the world's largest banking and financial services organizations, has opened its North American headquarters in a new 560,000 square-foot building in the Chicago suburb of Mettawa. The new headquarters, combining five HSBC facilities in Chicagoland, will be home to aproximately 3,100 employees.
"We are very pleased with our new headquarters, which enables HSBC to continue serving the Chicagoland communities and contributing to the economic well-being of Illinois," says Brendan McDonagh, CEO, HSBC-North America ...
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29th April, 2008
HSBC extends timetable for Korea acquisition
29April 2008
HSBC and Lone Star have agreed to extend, until 31 July 2008, the deadline for completion of HSBC's proposed acquisition of 51.02 per cent of Korea Exchange Bank ('KEB'), the sixth largest bank in Korea, subject to regulatory approval.
On 3 September 2007, HSBC Holdings plc announced that its indirect, wholly-owned subsidiary, HSBC Asia Pacific Holdings (UK) Limited ('HSBC Asia') had entered into a conditional agreement to acquire 51.02 per cent of the issued share capital of KEB from LSF-KEB Holdings SCA ('Lone Star').
The parties have now agreed to extend the deadline for completion of this transaction (the 'long-stop date') from 30 April to 31 July 2008. Both parties have also agreed that if approval from Korea's Financial Services Commission ('FSC') is obtained during the duration of this agreement, then the long-stop date deadline for completing the acquisition will be extended by two months after the date of FSC approval ...
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28th April, 2008
Grupo Financiero HSBC, S.A. DE C.V. first quarter 2008 financial results - highlights
28 April 2008
Net income for the first quarter of 2008 was MXN2,207 million, up MXN796 million, or 56.4 per cent, compared with MXN1,411 million for the same period in 2007.
Total operating income (excluding loan impairment charges) for the first quarter of 2008 was MXN9,638, up MXN1,567 million, or 19.4 per cent compared with MXN8,071 million for the same period in 2007.
Net loans and advances to customers were MXN191.4 billion at 31 March 2008, up MXN28.4 billion, or 17.5 per cent, compared with MXN162.9 billion at 31 March 2007.
Total customer demand and time deposits were MXN259.0 billion at 31 March 2008, up MXN44.7 billion, or 20.9 per cent, compared with MXN214.3 billion at 31 March 2007.
Cost efficiency ratio* improved to 54.0 per cent for the first quarter of 2008, compared with 59.8 per cent for the same period in 2007.
Return on equity was 23.4 per cent for the first quarter of 2008 compared with 16.5 per cent for the same period in 2007.
HSBC Mexico S.A ...
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15th April, 2008
The Saudi British Bank first quarter 2008 results - highlights
15 April 2008
The following news release was issued today by The Saudi British Bank (SABB), a 40 per cent indirectly held associate of HSBC Holdings plc.
Net profit of SAR757 million (US$202 million) for the three months ended 31 March 2008 - up SAR141 million (US$38 million), or 22.8 per cent, compared with SAR616 million (US$164 million) for the same period in 2007.
Operating income of SAR1,191 million (US$318 million) for the three months ended 31 March 2008 - up SAR163 million (US$44 million), or 15.9 per cent, compared with SAR1,028 million (US$274 million) for the same period in 2007.
Customer deposits of SAR78.4 billion (US$20.9 billion) at 31 March 2008 - up SAR18.6 billion (US$5.0 billion), or 31.1 per cent, compared with SAR59.8 billion (US$15.9 billion) at 31 March 2007.
Loans and advances to customers of SAR66.6 billion (US$17.8 billion) at 31 March 2008 - up SAR23.9 billion (US$6.4 billion), or 56.0 per cent, from SAR42.7 billion (US$11.4 billion) at 31 March 2007.
The bank's investment portfolio totalled SAR23.7 billion (US$6.3 billion) at 31 March 2008 compared with SAR17.6 billion (US$4.7 billion) at 31 March 2007.
Total assets of SAR106.4 billion (US$28.4 billion) at 31 March 2008 - up SAR26.9 billion (US$7.2 billion), or 33.8 per cent, over 31 March 2007.
Earnings per share of SAR2.02 (US$0.54) for the three months ended 31 March 2008 - up 22.8 per cent from SAR1.64 (US$0.44) for the same period in 2007.
Commentary
SABB recorded a net profit of SAR757 million (US$202 million) for the three months ended 31 March 2008 ...
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