HSBC Profit Up in Q1 as Bad Debts Fall

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00011248-hsbc-profit-up-in-q1-as-bad-debts-fall/

Global bank HSBC Holdings Plc said on Monday first-quarter profit rose by a third at its U.S. consumer finance business as provisions for bad loans fell and net interest income rose.

Net income increased 33 percent to $626 million from a year earlier, London-based HSBC said in a statement.

Provisions for credit losses fell to $841 million from $928 million as credit quality improved and after the sale of some loans to HSBC’s U.S. retail bank, HSBC said.

For this complete story, please visit HSBC Profit Up in Q1 as Bad Debts Fall.

HSBC Profit Up in Q1 as Bad Debts Fall

Unknown Author

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