HSBC’s Asia wealth business captured US$14bn net new assets in 1Q23

2 May 2023 | 3 minutes read

HSBC reported strong growth in its Wealth and Personal Banking (WPB) business in the first quarter of 2023, with Asia capturing US$14 billion in net new assets. HSBC WPB’s 1Q23 total revenues were up US$4 billion to US$9 billion, or 82%. Of this figure, US$2 billion is related to a part reversal of an impairment relating to the disposal of…

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