HSBC Bermuda sees profits rise to $143m

Pedro Gonçalves
clock • 1 min read

HSBC Bermuda's net profit rose 3% to $143m last year, with total operating income before expected credit losses reaching $281m. The bank said decreases in net interest income were offset by higher net fee income, dealing profits, and gains on financial investments. "The level of expected credit losses for the year was higher than last year but within expectations. Our balance sheet remains conservatively positioned from a capital and liquidity perspective," Steve Banner, chief executive officer and director, HSBC Bermuda, said:  He added: "The results for the 2019 financial year de...

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