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Americas: Latin America - HSBC's Stealthy And Steady Expansion - The UK Bank's Strategy...

By Stewart, Jules
Publication: The Banker
Date: Saturday, April 1 2006

Byline: JULES STEWART

When HSBC announced its record-breaking $21bn pre-tax profit for 2005, it almost went unnoticed that the region that accounts for the smallest portion of the group's bottom line was also the one that showed the strongest growth for the year. Latin America's contribution to profit soared by nearly 50% to 3.1% of the total from 2.3% in the previous year.

The world's second largest bank has been quietly building up its Latin American network with an eye on a booming domestic consumer banking market as well as growing demand by multination

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