The Banker Awards 2004: Global Awards - The Banker Global Awards Demonstrate That Major Banks...
GLOBAL BANK - HSBC
Following the strategic purchases of Household International in the US and Bital in Mexico, HSBC has continued to expand its global franchise in the past year, with record results in its global markets business, acquisitions in India, Bermuda and Brazil and a recent purchase of a 19.9% stake in Bank of Communications, China's fifth largest bank.
In 2003, group pre-tax profits were up 37% to $14.4bn and the group again produced record pre-tax profits in the first half of 2004 of $9.4bn, as all businesses generated solid earnings.
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