Home loans help deliver strong growth for HSBC Canada

HSBC Canada has reported its latest quarterly results with residential mortgages and business lending among the highlights.

The Canadian arm of the global bank reported a 14.9% rise in total operating income for the quarter ended June 30, 2018 (10.9% year-to-date) to $74 million. Profit before tax was up 8.3% to $19 million.

The lender reported commercial banking including commercial real estate lending posted the highest lending balance growth since 2010. CRE lending was one of the units seeing double-digit growth.

Residential mortgage lending was also strong and it’s a key area where the global lender wants to increase market share.

“We are reporting assets of over $100bn for the first time in our history due largely to significant growth in Commercial Banking lending balances and residential mortgages. And return on average equity improved to 14.7% up from 13.3% in the same quarter last year,” said Sandra Stuart, President and Chief Executive Officer of HSBC Bank Canada.

Improved expected credit losses
The change in expected credit losses for the quarter resulted in a recovery of $11m compared with loan impairment recoveries and other credit risk provisions of $46m for the same period of the prior year.

The recovery in the quarter is primarily as a result of provision releases from improving credit conditions for specific energy services customers and improvements in forward looking economic factors. This was partially offset by a charge of $10m in the non-performing portfolio mainly relating to the construction industry.


  1. I think this is a really good article. You make this information interesting and engaging. You give readers a lot to think about and I appreciate that kind of writing. slick cash loan direct partner lenders across USA

  2. Wow i can say that this is another great article as expected of this blog.Bookmarked this site.. Personal Loan - meezan bank car ijarah


Post a Comment