Strong overall performance with profit before tax up 25% for the year

  • Profit before income tax expense was $895m for the year ended 31 December 2017, an increase of $180m, or 25%, compared with 2016. Profit before income tax expense was $206m for the fourth quarter of 2017, a decrease of $45m, or 18%, compared with the fourth quarter of 2016.

  • Profit attributable to the common shareholder was $630m for the year ended 31 December 2017, an increase of $144m, or 30%, compared with 2016. Profit attributable to the common shareholder was $142m for the fourth quarter of 2017, a decrease of $36m, or 20%, compared with the fourth quarter of 2016.

  • Return on average common equity was 13.3% for the year ended 31 December 2017 and 11.7% for the fourth quarter of 2017 compared with 10.6% and 15.4% respectively for the same periods in 2016.

  • The cost efficiency ratio was 62.2% for the year ended 31 December 2017 and 61.7% for the fourth quarter of 2017 compared with 60.4% and 63.5% respectively for the same periods in 2016.

  • Total assets were $96.4bn at 31 December 2017, an increase of $1.7bn, or 1.8%, from 31 December 2016.

  • As at 31 December 2017 the common equity tier 1 capital ratio was 10.5% (2016: 10.5%), the tier 1 ratio was 12.4% (2016: 12.5%) and the total capital ratio was 14.7% (2016: 13.5%).

  • The HSBC Group took the top spot in Euromoney's annual global trade finance survey for 2018. Locally, HSBC's investments in trade finance products and services in 2017 have positioned the bank for further growth in this area.

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