HSBC’s HK private banking unit more profitable than entire division

6 August 2013 | 2 minutes read

HSBC’s private banking business in Hong Kong may have contributed a meagre 1% to the group’s pre-tax profit for the first half of 2013, but as a standalone unit, it more than punched above its weight proving to be more profitable than the bank’s entire private banking division. According to HSBC’s mid-year results, HSBC Private Bank in Hong Kong turned…

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