HSBC’s income has increased despite of the mortgage crisis
5 March 2008Net profit of the British bank group HSBC in 2007 has made 24,2 billion dollars, informs BBC News. This result is 10% more than results of 2006, when the bank declared an income in 22,08 billion dollars. At that losses of HSBC because of the mortgage crisis in 2007 have made 17,2 billion dollars.
According to the bank, the reason of income growth was in successful financial operations in the markets of Asia - growth of economy in Hong Kong in 2007, and also steady growth in the markets of the Asian region, including the trade. These factors in an aggregate promoted growth of income from transactions on the stock exchange and real estate operations.
Hang Seng Bank – HSBC’s Hongkong unit - on March, 3, 2008 has declared the net profit in 18,24 billion Hongkong dollars (about 2,4 billion dollars). In comparison with 2006 the income of the bank has grown by 51,5%, informs CNN.
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