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HSBC Bank Canada Q3 profit $138m, down 26.2%

Staff Writer |
HSBC Bank Canada posted third quarter 2016 results. Total assets were $95.2bn at September 30, 2016 compared with $94.0bn at December 31, 2015.

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Profit before income tax expense for the quarter ended September 30, 2016 was $138m, a decrease of 26.2% compared with the same period in 2015. Profit before income tax expense was $464m for the year to date, a decrease of 28.1% compared with the same period in 2015.

Profit attributable to the common shareholder was $91m for the quarter ended September 30, 2016, a decrease of 28.9% compared with the same period in 2015. Profit attributable to the common shareholder was $308m for the year to date, a decrease of 31.9% compared with the same period in 2015.

Return on average common equity was 7.7% for the quarter ended September 30, 2016 compared with 11.0% for the same period in 2015. Return on average common equity was 9.0% for the year to date compared with 13.1% for the same period in 2015.

The cost efficiency ratio was 66.0% for the quarter ended September 30, 2016 compared with 57.5% for the same period in 2015. The cost efficiency ratio was 59.4% for the year to date compared with 55.1% for the same period in 2015.

Common equity tier 1 capital ratio was 10.7%, tier 1 ratio 12.7% and total capital ratio 13.8% at September 30, 2016 compared with 10.1%, 12.1% and 13.5% respectively at December 31, 2015.


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