Mortgage News

HSBC profit jumps despite higher bad debt charges, shrinking mortgage

Monday 30th of November 2009

The bank's latest general disclosure statement (GDS) showed net profit rose 19.9% to $12.3 million in the three months ended September, taking net profit for the nine months ended September to $38.4 million, up 38.3% on the same nine months a year earlier.

The September quarter profit was after an additional $2.5 million charge for bad loans, bringing the charge for the nine months to $6...

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