British bank HSBC increased quarterly profit by one third

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The net profit of the British bank HSBC in the first quarter amounted to 4.13 billion dollars, an increase of 33.7% over the year. This was facilitated by the growth of the adjusted pre-tax profits of the retail banking and wealth management division by 19% to $2.23 billion. Quarterly net profit of the bank significantly exceeded the forecast of experts at 3.7 billion dollars. Revenue in the amount of $14.43 billion increased over the year by 5%. The profits of the global banking and market conditions division and the corporate customer service division remained at the same level as a year ago. At the same time, the global Private Banking division has reduced profits by 12%. The United Kingdom and Hong Kong are the largest markets of the British Bank.

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