Broader reach helps HSBC
Article Abstract:
HSBC Holdings PLC's financial performance for the first half of 2001 jumped 4% with a profit of $3.67 billion due to expansion into new markets and fewer provisions for bad loans than expected. Analysts warn that bad debt may catch up with the bank eventually, especially as more companies go bankrupt.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
Bank of East Asia makes glum bellwether for sector; more bad news predicted from institutions lending to China and local firms hit by recession
Article Abstract:
The Bank of East Asia Ltd has reported a decline of 56% in pretax profit in 1998 which results from the rapid rise of nonperforming loans in China and Hong Kong. Experts predict that what happened to the Bank ok of East Asia, which is the fourth largest bank in Hong Kong an the first to become profitable in 1998, may be a precedent for other local banks. Thus, banks are cautioned to set aside more funds as a protection against possible incidents of bad loans.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Surprise gain in HSBC pretax is tied to loans
Article Abstract:
HSBC Holdings PLC posted a 10% increase in pretax profits in the first half of 1999. The global bank registered first-half profits of $4.07 billion, up from $3.69 billion from the first six months of 1998. HSBC shares rose sharply in both Hong Kong and the UK as its better-than-expected earnings were announced. The bank's operations in Europe and Asia helped fuel its earnings increase, with lower bad-debt provisions in Asia also helping to minimize the effect of the financial crisis on HSBC's performance.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Old Shanghai estates yield to wrecking ball; young preservationists are striving to rescue some historic sites
- Abstracts: Start date of 2005 is set for new airport in Thailand---pending Japanese loan. Home developers begin to recover from Thailand's crisis
- Abstracts: Gambro gets a $4.85 billion bid from a Nordic investment group. Gambro reports loss for quarter
- Abstracts: Bush-Blair alliance faces new strains: as U.S. president prepares to visit his strongest ally, tensions come to the fore
- Abstracts: Leo Burnett sees new clients in Asia as key to success: In a down market, U.S.-based agency trumpets importance of broadening account base