HSBC profits up 5 pct, bad debts hit $10.6 bln
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HSBC Holdings  fell just short  of analysts' expectations with a 5 rise in 2006 profits on  Monday as Europe's biggest bank took a $10.6 billion hit for  bad debts after problems in its U.S. mortgage lending.
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Retailer Bhs, owned by billionaire tycoon Philip Green, has posted a 5.8 percent profit rise for the year to March despite flat same-store sales and raised its dividend to 200 million pounds for the year.
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HSBC reports record annual profits of $22bn, even as bad debt from its mortgage business in the US rose.
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The Royal Bank of Scotland says its 2006 profits should rise by more than 11% after a strong year's trading.
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Top UK banks could report combined annual profits of about Â£38bn despite worries about exposure to bad debts.
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Top UK banks are set to report combined profits of about Â£38bn for the past year despite worries about exposure to bad debts.
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Swiss banking giant Credit Suisse has reported a record net profit of 11.3 billion Swiss francs (9.1 billion dollars, 6.3 billion euros) in 2006, more than double the 5.8 billion Swiss francs posted in 2005.
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More than half of business people in the  Gulf Arab region polled by HSBC expect profits to grow by more  than 5 percent in 2007, the bank said on Saturday.
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HSBC Holdings  fell just short of analysts' expectations with a 5 rise in 2006 profits on Monday as Europe's biggest bank took a $10.6 billion hit for bad debts after problems in its U.S. mortgage lending.
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US conglomerate General Electric said Friday that its second-quarter profits rose 10 percent to 5.4 billion dollars as its consumer finance and infrastructure arms offset losses in US home mortgages.
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TORONTO (CP) - Bank of Nova Scotia reported record annual profits Tuesday and raised its dividend after the bank benefited from solid gains in mortgage and consumer lending as well as international operations.
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Goldman Sachs on Thursday said fourth-quarter profit rose 23 per cent as its fixed-income, currency and commodities business soared while a rebounding stock market boosted investment banking.
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Profits at US investment bank Goldman Sachs are better than expected, despite slow summer business.
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LONDON/HONG KONG  - HSBC's shares slumped to a 9-month low on Thursday after Europe's biggest bank announced its bad debt charge last year would be about $1.8 billion higher than expected as problems grew in its U.S. mortgage lending.
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Barclays, the nation's third-biggest bank, has said that net profit surged by 33 percent to a record 4.571 billion pounds in 2006, lifted by its investment banking arm.
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LONDON/HONG KONG  - Shares of HSBC Holdings   dropped more than 2 percent on Thursday after the British lender announced its bad debt charge last year would be about $1.8 billion higher than expected.
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HSBC Holdings said its charge for bad debts would be more than $10.5 billion for 2006 because of problems in its mortgage portfolio.