HSBC Holdings plc
HSBC: Acquisition of Grupo Banistmo S.A.
HSBC announced that it is to acquire Grupo Banistmo S.A., a banking group based mainly in Panama, at a cost of $1.77bn.
Grupo Banistmo has assets of $6,973m, shareholders’ funds of $695m and made post tax profits of $115m last year. The acquisition will give HSBC control over Primer Banco del Istmo, Panama’s largest bank and […]
HSBC: 2005 results
HSBC, Europe’s largest bank announced record profits for the year to December 2005. The bank, which styles itself ‘the world’s local bank’ – it operates in some 77 countries; reported group pre-tax profit of $20,966m (+11%), ahead of expectations.
The bank reported a steady growth in profits in its two largest markets, Europe (+10.4%) and North […]
HSBC: H1 Results
HSBC unveiled stronger than expected earnings figures for the half year to June 2005. Pre-tax profits rose 5% over the same period last year to reach US$10,640m, ahead of market expectations of US$9,200m-US$10,400m.
The growth was lead by the expansion of personal financial services and commercial banking businesses in new and emerging markets, particularly North America, […]
HSBC: China acquisition
HSBC announced that it had increased its stake in Ping An, a Chinese insurance company. The bank will acquire an additional 9.91% of the issued share capital of Ping An for HK$8,104m (US$1,039m).
HSBC
HSBC announced record profits for the year to December although a bit behind market expectations. The world’s second largest bank announced a 35% increase in pre-tax profit for the year, but only just met forecasts, disappointing the market that had expected a stronger performance. Operating profit before provisions was up 24% to $24,712m ($19,990m […]
Random picks: Amvescap | Balfour Beatty | French Connection | HMV | Man Group | Michael Page | Prudential | Royal & Sun Alliance | Shell | Thus