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hsbc Cover of 2008 Interim Results slide presentation Download 2008 Interim Results slide presentation to investors and analysts
HSBC reported financial results for the first half of 2008. Profit before tax was $10.2 billion, down 28% from the first half of 2007. Earnings per share were $0.65, down 32% from the previous year. Loan impairment charges increased 58% to $10.1 billion due to deterioration in credit quality, particularly in North America. However, the bank remained profitable in all regions except North America and maintained a strong capital position with a Tier 1 capital ratio of 8.8%. Global Banking and Markets wrote down $3.9 billion related to subprime and credit market exposures.
