Lower bad loans give HSBC a big Q1 profit boost
Lower bad loans give HSBC a big Q1 profit boost HSBC PLC, Europe's biggest bank by market value, saw its profits more than double in the first quarter as it booked fewer bad loans than in the same period last year and reaped the benefits of recent restructuring measures.
HSBC Holdings, Europe's biggest bank, said its first quarter profits were ``well ahead'' of last year, swelled by record results in its investment bank arm and gains on the value of its own debt.