HSBC posts sunny returns

HSBC Group Holdings reported a 13%% rise in earnings for 2007 aided by an increase in client assets and the launch of new private-equity investment platforms.
MAR 03, 2008
HSBC Group Holdings reported a 13%% rise in earnings for 2007 aided by an increase in client assets and the launch of new private-equity investment platforms. The London-based bank’s net operating income for 2007 was $61.8 billion, or $1.65 earnings per ordinary share, up 13% from the $54.8 billion, or $1.40 earnings per ordinary share, reported in 2006. HSBC’s pre-tax profits were also strong up 10% last year at $24.2 billion from the $22.1 billion reported in 2006. Client assets were up 26% to $421 billion for Europe’s largest bank.

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