HSBC Half-Year Profit Up 5 Percent on Drop in U.S. Bad Debt

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00006603-hsbc-half-year-profit-up-5-percent-on-dro/

Banking group HSBC Holdings PLC said Monday its half-year earnings rose 5 percent as it pushed forward with its expansion into emerging markets and as bad debt fell in the United States.

HSBC said net profit for the six months ending June 30 was $7.98 billion, up from $7.61 billion a year ago.

The bank said total bad debt rose nearly 20 percent to $3.28 billion from $2.74 billion, but bad debt in its North American operations fell 15 percent to $2.02 billion from $2.38 billion.

For this complete story, please visit HSBC Half-Year Profit Climbs 5 Percent.

HSBC Half-Year Profit Up 5 Percent on Drop in U.S. Bad Debt

Unknown Author

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