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HSBC China pre-tax profit rises 12%
By Hu Xiaocen |
15:58 UTC+8 March 7, 2013
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Online Edition
Online Edition
HSBC China reported pre-tax profit of US$792 million last year, up 12 percent from 2011, according to the lender's e-mailed statement today.
Taking into account income from the lender's associates on Chinese mainland, such as Ping An Insurance Group co, pre-tax profits surged 72 percent to US$6.3 billion, according to the annual report.
In the same statement it named Helen Wong, current president and chief executive officer of HSBC China, as vice chairman. The appointment has received regulatory approval and takes effect today. Wong will also remain president and CEO of HSBC China, it said.
Wong joined HSBC in 1992 and was appointed president and CEO in June 2010.
On Monday, the banking group reported a 16.5 percent drop in net profit last year to US$14 billion. The decline was mainly due to a US$2 billion fine it paid to settle a money-laundering case in the United States.
Taking into account income from the lender's associates on Chinese mainland, such as Ping An Insurance Group co, pre-tax profits surged 72 percent to US$6.3 billion, according to the annual report.
In the same statement it named Helen Wong, current president and chief executive officer of HSBC China, as vice chairman. The appointment has received regulatory approval and takes effect today. Wong will also remain president and CEO of HSBC China, it said.
Wong joined HSBC in 1992 and was appointed president and CEO in June 2010.
On Monday, the banking group reported a 16.5 percent drop in net profit last year to US$14 billion. The decline was mainly due to a US$2 billion fine it paid to settle a money-laundering case in the United States.
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