HSBC has reported a 31% hike in profits in the first quarter of the year, despite counting the cost of economic uncertainty in the UK.
Profit before tax at the London-based banking giant rose above expectations to $6.2bn in January-March, up from $4.8bn for the same period last year, it said in a stock exchange filing on Friday. The latest quarter's profit was above the $5.6bn average of analysts' estimates compiled by the bank.The global lender also increased its provision for bad loans in its commercial banking business, which it linked to current economic uncertainty in the UK.Chief executive John Flint said:"These are an encouraging set of results, particularly in the context of heightened economic uncertainty globally.
"We remain focused on executing the strategy we outlined last June, while also being alert to risks in the global economy."
Switched to Chinese “black money” instead of Cartel cash - what a lovely company and bunch of people HSBC are.
What even despite the fact the world is going to end when we leave the EU? That’s some good results right there, it’s almost like all of this Brexit scaremongering is fuelled by people who don’t want Brexit, making stupid unfounded lies to try to put people off an stuff! 🙄
richardcalhoun 'Despite Brexit', of course.
Mexican cartel money?
這家銀行問題很嚴重！FoxNews
profits up, will the HSBC bank start paying back to the UK taxpayer the money will bailed the bank out with in 2008 ...
It’s because they all know that there has never been and never will be any intention whatsoever by Parliament to honor the referendum that they themselves orchestrated and agreed.
Sky News do love to taint positive economy stories.
richardcalhoun So once again “despite Brexit” things are going ok. Just think how well we could have done if remainers hadn’t created uncertainty. That includes you lot at sky by the way!
So it proves Brexit is not the end of the world.