HSBC reports increased $US19 billion global profit for 2010
HSBC has reported a global profit before tax of $US19 billion for the year to December 31, an increase of $US11.9 billion, or 169%, on the 2009 result.
HSBC has reported a global profit before tax of $US19 billion for the year to December 31, an increase of $US11.9 billion, or 169%, on the 2009 result.
New Zealand specific figures will be released at the end of this month but the parent group said net interest income of $US39.4 billion was $US1.2 billion, or 3.2%, lower than 2009.
Total operating expenses of $US37.7 billion rose by $US3.2 billion, or 9.6%, compared with 2009. On an underlying basis operating expenses were up 8% compared with 2009.
The bank said loan impairment charges and other credit risk provisions were $US14 billion million in 2010, $US12.5 billion lower than 2009.
The Group’s total assets at 31 December 2010 were $US2,455 billion, an increase of $US91 billion, or 3.8%, since 31 December 2009.
NBR staff
Tue, 01 Mar 2011
Tue, 01 Mar 2011
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HSBC reports increased $US19 billion global profit for 2010
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