hsbc-results-its-all-about-asia

HSBC results: itÆs all about Asia

HSBCÆs results show the majority of profit growth came from its Asian businesses.
At its core, HBSC has always been an Asian bank, and its 2006 annual results û announced yesterday û signify AsiaÆs importance to the groupÆs growth. Indeed, they underscore why recent remarks from the bankÆs senior management have stressed HSBCÆs renewed focus on Asia.

HSBCÆs profits before tax grew to $22.08 billion. But it was the profit growth from Asia that dominated. AsiaÆs share of HSBCÆs total group profit grew from 33.8% in 2005 to 39.5% in 2006.

In fact, AsiaÆs pre-tax profit rose by $1.62 billion to $8.7 billion. Compare that with other regions of the world North America was down $1.24 billion Europe was up $618 million and Latin America...
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