Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

HSBC says profits up

LONDON, Nov 10 – HSBC, Europe\’s biggest bank, said on Tuesday that pre-tax profits during the third quarter were "significantly ahead" compared with the equivalent period a year earlier.

In a trading update that did not provide figures, HSBC also said that its expenses linked to loan defaults fell to their lowest quarterly level in more than a year.

"Pre-tax profit for the third quarter of 2009 was significantly ahead of the third quarter 2008," HSBC said in a statement.

Chief executive Michael Geoghegan added: "Driven by stabilised credit performance in the US, loan impairment charges have fallen to their lowest quarterly level for over a year."

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...