Trading profits add shine to HSBC's first quarter

HSBC has a good quarter bolstered by global banking and markets and its Asia businesses, but cautions that this may not be sustainable. The results show that impairments are on the rise.

Following a trend set by a number of banks who have booked fixed-income trading profits during the first quarter of 2009, HSBC yesterday announced that it has had a resilient start to 2009 with record results in global banking and markets GBM.

Net operating income before impairments was $3.3 billion for the quarter, up from $2.8 billion in the preceding quarter, but down from $3.7 billion in the first quarter of 2008.

HSBC said GBM delivered record results,...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: hsbc | gbm | earnings

Print Edition

FinanceAsia Print Edition

EVENTS