HSBC Boosts FX Earnings For First Half Of 1992
BANKS
The HSBC Group, which includes Hongkong and Shanghai Banking Corp., announced half-year results this week which showed a substantial increase in both overall profits and foreign exchange income.
Operating profit rose 55 percent to HK$11.9 billion, while foreign exchange earnings more than doubled, from HK$688 million for the first half of 1991 to HK$1.4 billion for the period this year. However, forex gains dropped about 29 percent from the second half of last year, when HSBC posted gains of HK$1
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