HSBC Group’s highest profit ensured by Asia and Latin America

PanARMENIAN.Net - HSBC Group pre-tax profit increased by 15% to total about USD 22 bn in 2011 compared with 2010, according to HSBC Bank Armenia Chief Executive Officer.

As Astrid Clifford told a press conference in Yerevan, HSBC Group’s activity was profitable almost in every business area, with high indices recorded in the field of corporate loan portfolio, with the highest profit ensured by Asia and Latin America.

Astrid Clifford noted that the Group’s total assets grew by 4% or USD 2,5 bn, with customer deposits increasing by USD 1,2 trillion.

“HSBC Group announced about payment of dividends at the amount of 7,3 bn in 2011, which is 14 % more compared with 2011. The Group has the highest dividend payout ratio in the world,” HSBC Bank Armenia Chief Executive Officer said.

Along with financial success, HSBC has received a number of awards by leading international publications.

It is noteworthy that the bank currently undergoes business reorganization, intending to cut a total of 30 thousand jobs and simultaneously create 15 thousand jobs in developing countries by 2013.

HSBC Holdings operates in 85 countries, with the total number of employees exceeding 300 thousand.