HK Bourse: Overseas Regulatory Announcement From Hsbc Hldgs Plc

2nd Aug 2010 01:34

Following is the related link: http://www.hkexnews.hk/listedco/listconews/sehk/20100802/LTN20100802025.pdf Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document. Ab c The following is the text of an advertisement which is to be published in the press in Malta on 31 July 2010 by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC Holdings plc., which has been released to the other stock exchanges on which HSBC Holdings plc is listed. 30 July 2010 HSBC BANK MALTA p.l.c. FIRST HALF 2010 RESULTS - HIGHLIGHTS " Profit before tax of 42.2 million for the six months ended 30 June 2010 - an increase of 21.4 per cent, or 7.4 million, compared with 34.8 million for the same period in 2009. " Profit attributable to shareholders increased by 21.8 per cent, or 4.9 million, to 27.4 million, compared with 22.5 million in the comparable period in 2009. " Earnings per share for the six months ended 30 June 2010 were 9.4 euro cent, compared with 7.7 euro cent for the same period in 2009. " Total assets of 5,606.8 million at 30 June 2010, an increase of 489.0 million, or 9.6 per cent, compared with 31 December 2009. " Loans and advances to customers were 3,204.3 million at 30 June 2010, a decrease of 22.1 million, or 0.7 per cent, compared with 31 December 2009. " Customer deposits were 4,146.0 million at 30 June 2010, an increase of 59.4 million, or 1.5 per cent, compared with 31 December 2009. " Return on equity for the six months ended 30 June 2010 was 16.9 per cent, compared with 15.6 per cent for the first half of 2009. more HSBC Bank Malta p.l.c. First Half 2010 Results/2 Commentary HSBC Bank Malta p.l.c. delivered a strong performance in the six months ended 30 June 2010, reporting a profit before tax of 42.2 million. This represents an increase of 21.4 per cent or 7.4 million compared to same period in 2009, substantially driven by an improved level of revenues while keeping costs flat. Net interest income increased by 26.2 per cent to 60.8 million, compared to 48.2 million in the first half of 2009, as a result of the re-pricing of loans during 2009 and the unwinding of term deposits. However, liability margins remain under pressure given the low interest rate environment. Net fees and commission income of 16.9 million for the six months ended 30 June 2010 increased by 11.2 per cent or 1.7 million compared to 15.2 million recorded in the first half of 2009. Strong growth was recorded in lending, card issuance and usage fees and from trust and retail brokerage trading activities. Profits from life insurance business, weakened by recent market conditions, at 3.7 million for the first half of 2010 was 32.5 per cent lower than for the same period in 2009. Operating expenses of 40.8 million for the six months ended 30 June 2010 were in line with those in the first half of 2009. The cost efficiency ratio improved to 48.4 per cent compared to 54.7 per cent for the same period in 2009. This was achieved through strict cost discipline. In a challenging economic environment, net loan impairments charges of 1.4 million were reported for the six months ended 30 June 2010 compared to a release of 0.9 million in the comparable period in 2009. From an extremely low historic base the charge remains at the modest level of 9 basis points of the overall loan book. Total assets grew by 489 million to 5,606.8 million at 30 June 2010 compared to 5,117.8 million at 31 December 2009. The main increases were reported in treasury bills and debt securities investments as part of the banks liquidity management. The credit quality of the available-for-sale investments portfolio remained satisfactory with an increase in fair value of 6.8 million during the current period compared to 3.8 million for the six months ended 30 June 2009. This increase in fair value is credited directly to the revaluation reserve, net of tax. During the first half of 2010 net loans and advances to customers fell by 22.1 million as, in the current economic environment, borrowers looked to reduce debt levels. However where lending opportunities arose the bank continued to support its customers financial needs while maintaining asset quality. Consumer lending showed resilience and good growth was registered in new mortgages. Demand for corporate lending was soft. The quality of the lending portfolio showed a marginal deterioration with non-performing loans representing 3.2 per cent of gross loans as at June 2010 compared to 2.9 per cent as at 31 December 2009. Liquidity and capital ratios remain strong and are well above regulatory requirements. (MORE TO FOLLOW) Dow Jones Newswires August 01, 2010 20:34 ET (00:34 GMT)