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HSBC Press Releases |
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15th April, 2008
HSBC makes key international appointments
15 April 2008
* LatAm specialist promoted to run the region *
* new MD for UK retail bank *
* new CEOs for Brazil, Mexico and Malta *
Emilson Alonso, currently Chief Executive of HSBC Bank Brasil and Co-head of Latin America, has been promoted to a Group Managing Director and Head of HSBC Latin America with effect from May 2008 ...
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10th April, 2008
HSBC launches private banking in Ireland
10 April 2008
HSBC Group Chief Executive Michael Geoghegan today announced the launch of a new private bank in Ireland during a visit to the Group's Irish headquarters. Already the third largest private bank in the world,(1) HSBC Private Bank offers a range of wealth management, banking or trust services in over 93 locations around the world.
HSBC's results for 2007 confirmed private banking as its fastest growing business, recording profit before tax of US$1.5 billion, 6.2 per cent of overall Group profits, and a 26 per cent growth in client assets to US$421 billion.
Michael Geoghegan said: "HSBC's push into private banking reflects the phenomenal increase in personal and business wealth that Ireland has experienced over the past few years ...
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4th April, 2008
HSBC tops Forbes 2000 list of world's largest companies
4 April 2008
HSBC has jumped two places to top the latest Forbes 2000 list of the world's largest companies, the first time a non-US company has led the rankings since its launch in 2004. The annual index surveyed blue-chip firms in 26 industries across 60 countries and ranked them according to a composite of sales, profits, assets and market value ...
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4th April, 2008
HSBC Trinkaus delivers record results in 2007
4 April 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.
Operating revenue up 12.6 per cent to €535.9 million
Operating profit up 12.9 per cent to €206.0 million
9.7 per cent increase in net income before tax to €207.8 million
HSBC Trinkaus delivered record results in 2007 despite increasingly challenging market conditions ...
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12th March, 2008
HSBC positions Russia business for future growth
12 March 2008
*Russia expert appointed as new CEO*
*US$200m of new capital to be deployed*
*Expands into the regions of Russia*
HSBC today re-affirmed its strategic focus on Russia with a string of new announcements designed to strengthen its growing franchise ...
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11th March, 2008
HSBC enters Korean insurance market through joint venture Hana HSBC Life Insurance
11 March 2008
*** A foothold in Asia's 2nd largest - and the world's 7th largest - insurance market ***
*** Planned injection of additional KRW20 billion in capital to support expansion ***
Today marks a new beginning for the insurance joint venture between HSBC Insurance (Asia-Pacific) Holdings Limited (HSBC Insurance) and Hana Financial Group as the insurer has been renamed Hana HSBC Life Insurance and now carries a new corporate logo.
To support plans to aggressively expand its business, the two shareholders intend to provide Hana HSBC Life Insurance with an additional KRW20 billion injection of capital.
Clive Bannister, Group Managing Director of Insurance, HSBC Holdings plc, said: "The joint venture will allow HSBC to extend its growing insurance business to Korea, an economy whose insurance market is the second largest in Asia and the seventh largest globally ...
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7th March, 2008
HSBC Private Bank (Suisse) appoints new Chief Executive upon retirement of Peter Braunwalder
7 March 2008
HSBC Private Bank (Suisse) SA has today announced that Peter Braunwalder has decided to retire as Chief Executive Officer, as of the 1st October 2008. We are pleased, however, to have found an excellent successor in Alexandre Zeller, currently CEO of Banque Cantonale Vaudoise (BCV) who has agreed to join HSBC Private Bank in August 2008 ...
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4th March, 2008
HSBC amongst first to incorporate in Vietnam
04 March 2008
HSBC has received regulatory approval-in-principle to join the first wave of foreign banks to locally incorporate in Vietnam, one of the world's fastest growing emerging economies.
Local incorporation will allow HSBC to offer a full range of local banking services and follows landmark strategic investments in Techcombank, a top five commercial lender and Bao Viet, one of Vietnam's leading insurers.
Sandy Flockhart, HSBC's Asia CEO, said: "Vietnam's economy is growing at an extraordinary pace, with GDP growth in excess of seven per cent a year over the past few years ...
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3rd March, 2008
HSBC Holdings plc 2007 final results - highlights
03 March 2008
Total operating income up 25 per cent to US$87,601 million (US$70,070 million in 2006).
For the year:
Net operating income up 13 per cent to US$61,751 million (US$54,793 million in 2006).
Group pre-tax profit up 10 per cent to US$24,212 million (US$22,086 million in 2006).
Profit attributable to shareholders of the parent company up 21 per cent to US$19,133 million (US$15,789 million in 2006).
Return on average invested capital of 15.3 per cent (14.9 per cent in 2006).
Earnings per share up 17.9 per cent to US$1.65 (US$1.40 in 2006).
Dividend and capital position:
Total dividends declared in respect of 2007 of US$0.90 per share, an increase of 11.1 per cent over 2006; fourth interim dividend for 2007 of US$0.39 per share, an increase of 8.3 per cent.
Tier 1 capital ratio of 9.3 per cent and total capital ratio of 13.6 per cent.
HSBC HOLDINGS REPORTS PRE-TAX PROFIT OF US$24,212 MILLION
HSBC made a profit before tax of US$24,212 million, an increase of US$2,126 million, or 10 per cent, over 2006.
Net interest income of US$37,795 million was US$3,309 million, or 10 per cent, higher than 2006.
Net operating income before loan impairment charges and other credit risk provisions of US$78,993 million was US$13,627 million, or 21 per cent, higher than 2006.
Total operating expenses of US$39,042 million rose by US$5,489 million, or 16 per cent, compared with 2006.
HSBC's cost efficiency ratio was 49.4 per cent compared with 51.3 per cent in 2006.
Loan impairment charges and other credit risk provisions were US$17,242 million in 2007, US$6,669 million higher than 2006.
The tier 1 capital and total capital ratios for the Group remained strong at 9.3 per cent and 13.6 per cent, respectively, at 31 December 2007.
The Group's total assets at 31 December 2007 were US$2,354 billion, an increase of US$494 billion, or 27 per cent, since 31 December 2006.
The consolidated financial statements of HSBC have been prepared in accordance with International Financial Reporting Standards ('IFRSs') as endorsed by the EU ...
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3rd March, 2008
HSBC adds to international expertise of Board
03 March 2008
Two of HSBC's most experienced executives, Sandy Flockhart and Stuart Gulliver, have been appointed executive Directors of HSBC Holdings plc, with effect from 1 May 2008. International business leaders, Safra Catz of Oracle and Narayana Murthy of Infosys will also join the Board as non-executive Directors on 1 May 2008.
Baroness Dunn, Sir Brian Moffat and Lord Butler will retire as non-executive Directors at HSBC's Annual General Meeting on 30 May 2008 and will not seek re-election.
Sandy Flockhart (56) is Chief Executive of The Hongkong and Shanghai Banking Corporation Limited, overseeing HSBC's Asia operations in 19 countries and territories ...
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