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Paris confirmed as HSBC hub in continental Europe

2022-02-22T17:58:18.468Z


The British bank wants to strengthen itself in the financing of companies on the Old Continent. Like most major European banks, HSBC turned the page on the health crisis in 2021. Thanks to the recovery of the global economy, the Sino-British giant saw its profits more than triple (12.6 billion dollars) compared to 2020. The French subsidiary of HSBC, which has since had 201,911 European subsidiaries, has also recovered. It recorded a net profit of 285 million euros last year, after a loss o


Like most major European banks, HSBC turned the page on the health crisis in 2021. Thanks to the recovery of the global economy, the Sino-British giant saw its profits more than triple (12.6 billion dollars) compared to 2020. The French subsidiary of HSBC, which has since had 201,911 European subsidiaries, has also recovered.

It recorded a net profit of 285 million euros last year, after a loss of 945 million euros in 2020. These results do not include the sale of the French bank for individuals from HSBC to My Money Group, the French banking group controlled by the American investment fund Cerberus.

This will be effective in 2023 and will cost HSBC 1.9 billion euros.

It will be accounted for in the results of 2022.

See also

French banks at their best

HSBC now has ambitions in the financing and support of businesses.

In this context, Paris will grow.

“Paris is HSBC’s hub in continental Europe for business…

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Source: lefigaro

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