HSBC has announced it made a strong start to the year despite turbulence in global financial markets.
The bank said its first quarter results for 2008, released overnight, were ahead of first quarter 2007 profits.
Loan impairment charges in its US consumer finance business were also in line with expectations at US$3.2 billion, compared with US$4.6 billion in the fourth quarter 2007.
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Group chairman of HSBC Stephen Green said the performance demonstrates HSBC’s “resilience in difficult financial markets”.
Published: 13-05-08
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