Securities services revenue at HSBC in the first quarter of this year is 13 percent higher than in the same period a year ago.
The figures are tucked away in the 30-page document setting out the global bank's results. They show that the division accounted for just over 10.4% of HSBC's global banking and markets net operating income, earning US$405 million out of a total of $1,934 million.
They pale into insignificance, however, when measured against total group revenue of $12,993 million, a figure down 13 percent on a year earlier. The bank makes the point that this is due largely to a change in the accounting treatment of the fair value on its own debt.
HSBC performed well, says Stuart Gulliver, group chief executive, as the bank continues its pivot to Asia.
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Securities services revenue up 13 percent at HSBC
Securities services revenue at HSBC in the first quarter of this year is 13 percent higher than in the same period a year ago.
Securities services revenue up 13 percent at HSBC
Securities services revenue at HSBC in the first quarter of this year is 13 percent higher than in the same period a year ago.
They pale into insignificance, however, when measured against total group revenue of $12,993 million, a figure down 13 percent on a year earlier. The bank makes the point that this is due largely to a change in the accounting treatment of the fair value on its own debt.
HSBC performed well, says Stuart Gulliver, group chief executive, as the bank continues its pivot to Asia.
Posted at 03:48 PM in News & Comment | Permalink