Broader reach helps HSBC

Article Abstract:

HSBC Holdings PLC's financial performance for the first half of 2001 jumped 4% with a profit of $3.67 billion due to expansion into new markets and fewer provisions for bad loans than expected. Analysts warn that bad debt may catch up with the bank eventually, especially as more companies go bankrupt.

Statistical Data Included

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Bank of East Asia makes glum bellwether for sector; more bad news predicted from institutions lending to China and local firms hit by recession

Article Abstract:

The Bank of East Asia Ltd has reported a decline of 56% in pretax profit in 1998 which results from the rapid rise of nonperforming loans in China and Hong Kong. Experts predict that what happened to the Bank ok of East Asia, which is the fourth largest bank in Hong Kong an the first to become profitable in 1998, may be a precedent for other local banks. Thus, banks are cautioned to set aside more funds as a protection against possible incidents of bad loans.

Banking Institutions, Depository Credit Intermediation, China, Services, Banks (Finance), Bank loans, Bank of East Asia Ltd.

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Surprise gain in HSBC pretax is tied to loans

Article Abstract:

HSBC Holdings PLC posted a 10% increase in pretax profits in the first half of 1999. The global bank registered first-half profits of $4.07 billion, up from $3.69 billion from the first six months of 1998. HSBC shares rose sharply in both Hong Kong and the UK as its better-than-expected earnings were announced. The bank's operations in Europe and Asia helped fuel its earnings increase, with lower bad-debt provisions in Asia also helping to minimize the effect of the financial crisis on HSBC's performance.

Offices of Bank Holding Companies, Bank Holding Companies, Bank investments, East Asia, Company Profile

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