HSBC Holdings Reported $10.2 Billion Profit for 1st Half 2017
HSBC Holdings reported $10.2 billion profit for 1st half 2017, up $0.5 billion or 5% compared to 2016. $7.63 billion or 74.5% of the $10.2 billion profit originated from Asia. In the same period in 2016, 73.7% of profit had came from Asia.
” Global Private Banking business produced $142 million in profit “
Retail Banking and Wealth Management delivered $3.35 billion in profit while Global Private Banking business produced $142 million in profit.
Stuart Gulliver, Group Chief Executive, said:
“We have had an excellent first half of 2017, reflecting the changes we have made since our Investor Update in 2015 and the strength of our competitive position. Our three main global businesses performed well, increasing profit before tax and growing market share in many of the products that are central to our strategy. We remain on track to complete the majority of our strategic actions by the end of the year.”
Source: Official Press Release
The Hong Kong and Shanghai Banking Corporation Limited (NYSE:HSBC) was established in 1865 to finance the growing trade between Europe, India and China. HSBC was born from one simple idea – a local bank serving international needs. Today, it covers 71 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America with around 4400 offices in both established and emerging markets, serving around 46 million customers through the Four Global Businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking.
- Origin : London, UK
- Assets : Euro 21.67 billion
- Revenue : Euro 721.3 million
- Employees : 266,000
Official Website: www.hsbc.com