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HSBC Bank Canada profit rises in Q2

HSBC Bank Canada has reported profit attributable to common shareholders of CAD$191m for the second quarter of 2011, up 7.3%, compared to CAD$178m for the same period in 2010.

Net interest income for the second quarter of 2011 decreased 4.9% to CAD$390m, compared to CAD$410m for the same period a year ago.

Operating profit was CAD$273m for the second quarter of 2011, compared to CAD$282m for the same period in the previous year.

Net trading income for the second quarter of 2011 was CAD$36m, a decrease of 41%, compared to CAD$61m for the same period in 2010.

Total assets were CAD$81.5bn for the second quarter of 2011, compared to CAD$79.1bn for the same period in the previous year.

Retail banking and wealth management’s profit before income tax expense was CAD$48m for the second quarter of 2011, compared with CAD$24m for the same period a year ago.

Commercial banking’s profit before income tax expense was CAD$149m for the second quarter of 2011, compared with CAD$143m for the same period in 2010.