HSBC closes the first quarter of the year with a bang: gross profit equal to 6,8 billion dollars, up by 26% compared to 5,4 billion of the 2011.
Le stime of analysts expected growth to 5,9 billions.
The Colossus has set aside $65 billion for bad loans in North America following the acquisition, dating back to 2003, of Household International, involved in the subprime mortgage crisis.
The assessment of credit risk is however down by about 500 million compared to 2011.
“We are continuing to make good progress in fine-tuning our strategy by closing and exiting 11 risk situations. Furthermore – explains the managing director, Stuart Gulliver -, we continue to grow thanks to our positioning in Hong Kong, Latin America and Asia.
