the adviser logo

HSBC satisfied with Q1 results

by Staff Reporter7 minute read
The Adviser

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.

Group chairman of HSBC Stephen Green said the performance demonstrates HSBC’s “resilience in difficult financial markets”.

Published: 13-05-08

Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more