Bloomberg News

HONG KONG DAYBOOK: HSBC’s Full-Year Profit May Jump 24 Percent

February 26, 2012

Feb. 27 (Bloomberg) -- HSBC Holdings Plc, Europe’s largest bank, may say full-year profit climbed 24 percent to $16.3 billion from the year-earlier period, helped by an accounting gain on the revaluation of its debt, according to the median estimate of 19 analysts surveyed by Bloomberg.

Pretax profit at HSBC’s investment bank may fall 22 percent to $7.19 billion, according to Morgan Stanley analyst Chris Manners. Last year, the division has accounted for 50 percent of HSBC’s pretax profit, data compiled by Bloomberg show.

NI DAYAHEAD NI CHECO NI HKDAYBOOK NI GOV NI HK NI SUM NI CHS NI FRX NI BON

--With assistance from Kana Nishizawa in Hong Kong. Editors: Allen Wan, Stan James To contact the editor responsible for this story: Hwee Ann Tan at hatan@bloomberg.net

To contact the editor responsible for this story: Hwee Ann Tan at hatan@bloomberg.net

To contact the reporter on this story: Stanley James in Hong Kong at sjames8@bloomberg.net

To contact the editor responsible for this story: -0- Feb/26/2012 22:56 GMT


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