HSBC Trinkaus & Burkhardt AG nine months 2015 results
- Net fee income increased to €328.7m (9M2014: €287.7m)
- Net interest income improved to €133.7m (9M2014: €130.4m)
- Administrative expenses rose to €407.6m (9M2014: €379.5m)
- Profit before tax was up at €166.5m (9M2014: €152.5m)
- Operating revenue of €545.0m (9M2014: €515.4m)
HSBC Trinkaus & Burkhardt AG (‘the Bank’) continues its path of strategic growth. Net fee income – a major indicator of growing business with clients – grew by 14.3% compared to the prior-year period. By expanding our product offering for internationally operating Mid Market Enterprises and multinational corporations, extending the range of our target clients and acquiring new clients, we continue to implement the Bank’s strategy of becoming the ‘Leading International Bank’.
The Bank’s profit before tax increased to €166.5m compared to €152.5m for the first nine months of 2015. Profit after tax increased by 12.1% to €114.6m (9M2014: €102.2m). Despite moderate global growth, high regulatory costs and the continuing low interest rate environment, profit before tax grew in the Global Banking & Markets, Retail Banking and Wealth Management and Commercial Banking segments, and remained broadly unchanged in Private Banking compared to the same period in 2014.
The Bank maintains a strong and liquid balance sheet. Both the total regulatory capital ratio and tier 1 capital fell compared to the end of the previous year to 12.3% (31Dec2014: 13.0%) and to 10.0% (31Dec2014: 10.4%), respectively. HSBC Trinkaus & Burkhardt AG, the HSBC Group’s principal subsidiary in Germany, is rated ‘AA- (Stable)’ by Fitch Ratings.
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Notes to editors:
1. HSBC Trinkaus & Burkhardt AG
HSBC Trinkaus & Burkhardt AG is a leading client-oriented commercial bank with now 230 years of experience. It is part of the globally-operating HSBC Group. With more than 2,700 employees, the Bank can be found in 11 locations in Germany, in addition to the head office in Duesseldorf. Germany is a priority growth market for the HSBC Group. HSBC Trinkaus & Burkhardt AG’s particular strength lies in the comprehensive servicing of its clients, its detailed knowledge of the international markets, mainly the emerging markets, as well as its global network which helps clients grasp international opportunities. HSBC Trinkaus & Burkhardt AG, the HSBC Group’s principal subsidiary in Germany, is rated ‘AA- (Stable)’ by Fitch Ratings. The Bank has total assets of €24.3bn and €208.1bn in funds under management and administration. The Bank’s central target groups are corporate clients, institutional clients and high net worth private clients (all figures as at 30 September 2015).
HSBC Trinkaus & Burkhardt’s press releases can be found on the www.hsbc.de homepage under ‘Press’.
2. HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,100 offices in 72 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,549bn at 30 September 2015, HSBC is one of the world’s largest banking and financial services organisations.
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