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HSBC Bank Malaysia Berhad revenue up 15%

HSBC Bank Malaysia Berhad, a banking and financial services organization has reported a growth of 14.7% in revenue and profit before allowance of 21.0% for the first nine months ended 30 September 2007, compared with the corresponding period last year.

Profit before tax of MYR226 million for the three months ended 30 September
The company’s profit before taxation stood at MYR720 million up MYR14 million, or 1.9%, for the nine months ended 30 September 2007 compared with MYR706 million for the same period in 2006.

Profit before allowance for losses on loans and financing was MYR946 million, up MYR164 million, or 21.0%, compared with MYR782 million for the same period in 2006.

Net interest income rose to MYR828 million, up MYR105 million, or 14.6%, compared with MYR723 million for the same period last year.

Irene Dorner, deputy chairman and CEO of HSBC Bank Malaysia Berhad, said: Amidst an increasingly competitive banking environment, HSBC Bank Malaysia Berhad has reported growth in all the major income sources as well as balance sheet size.