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The net profit of the British bank HSBC in the first quarter amounted to 4.13 billion dollars, an increase of 33.7% over the year. This was facilitated by the growth of the adjusted pre-tax profits of the retail banking and wealth management division by 19% to $2.23 billion. Quarterly net profit of the bank significantly exceeded the forecast of experts at 3.7 billion dollars. Revenue in the amount of $14.43 billion increased over the year by 5%. The profits of the global banking and market conditions division and the corporate customer service division remained at the same level as a year ago. At the same time, the global Private Banking division has reduced profits by 12%. The United Kingdom and Hong Kong are the largest markets of the British Bank.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
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