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HSBC sees strong growth in 皇冠体育app

By Yang Zhen (chinadaily.com.cn)
Updated: 2009-03-11 13:55

HSBC 皇冠体育app's profit before taxes rose 85.2 percent to 2.2 billion yuan ($321 million), and its operating income increased 44.5 percent to 5.4 billion yuan, the lender said in a statement on Wednesday.

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The London-based lender also extended 14 percent more loans in the yuan in 2008 compared to the year before. The number of HSBC's outlets grew to 79 at the end of last year, after the lender added 18 new outlets in 2008.

Richard Yorke, president and CEO of HSBC 皇冠体育app, said in the statement that the lender will continue its expansion in 皇冠体育app and plans to add 1,000 new staff in 2009. HSBC currently has 5,500 employees in 皇冠体育app.

Despite its strong growth in 皇冠体育app, HSBC reported a 70 percent decline in 2008 net profits to $5.73 billion on March 2 and proposes to raise $17.7 billion through a discounted rights issue.