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HSBC Germany achieves stable earnings
Pre-tax profit adjusted primarily for the costs of the ongoing transformation program totalled €196m, following the record result of €275m in the previous year. Extraordinary expenses included, a profit before taxation of €17m was recorded.
“We have managed to build on the excellent results of the last two years. This reflects our diversified business model, through which we were able to play to our strengths despite quickly changing framework conditions”, says Nicolo Salsano, Chairman of the Management Board of HSBC Germany. “Our transformation program, through which HSBC Germany will become a fully integrated part of the continental Europe unit, is progressing well. In this new setup, our customers will have access to an even broader range of products and services.
In a year-on-year comparison, the total assets of HSBC Germany went up from €31,5bn to €37,7bn. The tier 1 capital ratio increased to a comfortable 18,9 percent (end of 2021: 14,7 percent), while the equity ratio climbed to 21,7 percent (end of 2021: 16,9 percent). The adjusted result corresponds to a pre-tax return on equity of almost 8 percent.
Contact
Jens Friedrich
E-Mail: jens.friedrich@hsbc.de
Phone: +49 211 910 1789
About HSBC Germany
HSBC Germany is part of the HSBC Group, one of the world’s leading international banks, with a network across 62 countries and territories worldwide which accounts for more than 90% of global economic output. HSBC is one of the world’s largest banking and financial services organisations with assets of US$ 2,967bn at 31 December 2022. HSBC Germany’s clients are companies, institutional clients, the public sector and high net worth private clients. The bank stands for internationality, comprehensive advisory expertise, major placement power, first-class infrastructure and capital strength. HSBC Germany, which operates as HSBC Trinkaus & Burkhardt GmbH, was founded in 1785.