HSBC bank says net quarterly profit soars to $4.15 bln

9th May 2011, Comments 0 comments

Asia-focused banking giant HSBC announced on Monday that net profit surged by 58 percent to $4.153 billion (2.88 billion euros) in the first quarter compared with the outcome at this time last year.

Europe's biggest bank said that profit after tax for the three months to March 31 grew massively from a figure of $2.631 billion in the first quarter of 2010.

"There was double-digit revenue growth in many of our businesses," HSBC chief executive Stuart Gulliver said in an earnings statement published by the London-headquartered bank.

© 2011 AFP

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