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 HSBC Bank Canada First Quarter 2012 result- HSBC Bank Canada First Quarter 2012 result
- May 05, 2012
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HSBC Bank Canada recorded a profit of C$220m for the first quarter of 2012, an increase of C$60m, or 37.5% compared with C$160m for the first quarter of 2011. Profit attributable to common shareholders was C$202m, an increase of C$60m, or 42.3% over the first quarter of 2011.
The increase was primarily due to a gain of C$84m resulting from the sale of the full service retail brokerage business as well as increased net interest income and reduced operating expenses. This was partially offset by restructuring charges of C$36m mostly relating to the wind down of the consumer finance business and lower net fee income. Excluding the gain on the sale of the full service retail brokerage business, the restructuring charges and after income tax expense, HSBC Bank Canada's pr...
- View more at: http://www.1888pressrelease.com/hsbc-bank-canada-first-quarter-2012-result-pr-394657.html
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