Hsbc asia-pacific posts US $13.3 b in 2011 PPT

HSBC Asia-Pacific has announced profits before tax of US$13.3 billion in 2011 on a reported basis, an increase of 15% year-on-year.

The Asia-Pacific business remains a key contributor to the HSBC Group's global performance, accounting for 61% of total Group profits before tax in 2011.

HSBC's financial performance in Asia-Pacific was driven by increasingly diverse sources of income from its Global Businesses around the region. Hong Kong reported pre-tax profits of US$5.8 billion compared with US$5.7 billion in 2010, an increase of 2% on a reported basis.

On an underlying basis pre-tax profit rose by 5%. The Rest of Asia-Pacific contributed record pre-tax profits of US$7.5 billion compared with US$5.9 billion in 2010, an increase of 27%.

On an underlying basis pre-tax profit rose 24%.

Peter Wong, Chief Executive of HSBC in Asia, said: "As our strong financial performance shows, HSBC's strategy is delivering results in the Asia-Pacific region across all geographies and the Global Businesses. By focusing on quality assets, fee income-generating activities and opportunities linked to the renminbi's rise as a world currency, HSBC Asia-Pacific is well positioned for sustainable growth. As economic expansion in our region continues to outpace that of the developed world, I believe our international connectivity is a core strength serving our customers locally, regionally and globally."

The Hongkong and Shanghai Banking Corporation Limited is the founding and a principal member of the HSBC Group which serves around 89 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. The HSBC Group's network covers 7,200 offices in 85 countries and territories in six geographical regions: Europe, Hong Kong, Rest of Asia-Pacific, Middle East and North Africa, North America and Latin America.