HSBC Bank Canada First Quarter 2016 results

  • Profit before income tax expense for the quarter ended 31 March 2016 was C$158m, a decrease of 31.6% compared with the same period in 2015, and an increase of C$186m compared with the fourth quarter of 2015.

  • Profit attributable to common shareholder was C$106m for the quarter ended 31 March 2016, a decrease of 35.0% compared with the same period in 2015, and an increase of C$144m compared with the fourth quarter of 2015.

  • Return on average common equity was 9.4% for the quarter ended 31 March 2016 compared with 14.5% for the same period in 2015.

  • The cost efficiency ratio was 55.3% for the quarter ended 31 March 2016 compared with 54.0% for the same period in 2015, and 69.4% for the fourth quarter ended 2015.

  • Total assets were C$92.6bn at 31 March 2016 compared with C$94.0bn at 31 December 2015.

  • Common equity tier 1 capital ratio was 10.0%, tier 1 ratio 12.0% and total capital ratio 13.2% at 31 March 2016 compared with 10.1%, 12.1% and 13.5% respectively at 31 December 2015.

The abbreviations ’C$m’ and ’C$bn’ represent millions and billions of Canadian dollars, respectively.

Media enquiries to:

Sharon Wilks
416-868-3878
sharon_wilks@hsbc.ca

Aurora Bonin
604-641-1905
aurora.f.bonin@hsbc.ca

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