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HSBC has announced it made a strong start to the year despite turbulence in global financial markets.
The bank said its first quarter results for 2008, released overnight, were ahead of first quarter 2007 profits.
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Loan impairment charges in its US consumer finance business were also in line with expectations at US$3.2 billion, compared with US$4.6 billion in the fourth quarter 2007.
Group chairman of HSBC Stephen Green said the performance demonstrates HSBC’s “resilience in difficult financial markets”.
Published: 13-05-08
