HSBC continues to lose market share

The bank's net profit for the quarter fell 11.6% to $3.78 million, although its annual result of $24.39 million was 4.4% ahead of 2004.

Its mortgage book shrank from $2.14 billion at the end of September to $2.12 billion at the end of December compared with $2.2 billion in December 2004. Its share of mortgages held by registered banks eased to 1.86% from 1.94% in September and from 2.24% in December 2004.

HSBC has been losing market share since it bought AMP's mortgage book in the June 2003 quarter.