Company

HSBC counting €62 million profits

HSBC Malta made a gross profit of €62,2 million in 2016, by far over-performing the HSBC Group as a whole.

HSBC Malta announced its profits for 2016 on Tuesday, counting a gross sum of €62.2 million, a 33 percent increase since the year before. Net dividends were recorded at €26.1 million, a 45 percent increase, while adjusted profit before tax was €59.4 million, which accounted for a 3 percent decrease since 2015 in accordance with expectations.

HSBC Malta has performed well compared to HSBC Group as a whole, counting a 62 percent gross profit slump during 2016 to $7.1 billion, citing one-off charges within the bank's global private banking business in Europe and the sale of operations in Brazil as reasons.

First reported by Times of Malta.

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