So how does HSBC do it?

[Mailman]

HSBC are doing very poorly to only do £6bln more than RBS. They are a considerably larger operation.

Maybe HSBC are doing crap?

HSBC profit £12.1
RBS £10.3billion
Barclays £7billion
HBOS £5.4billion
Lloyds £4billion

Also, profits posted in 2007 also show a similar gap between all the main players so I cant see HSBC being able to outperform their competitors by such a large margin.

Perhaps HSBC has something to fear now RBS is a much bigger beast to compete against?

Mailman

[Churchill]

care to elaborate?

53Deg 29'20.43" N
01Deg 29'20.55" W

Have fun with the fireworks.

[HRH]

I don't know how they do it, but I do know where!

From a big bunker, just outside Sheffield!

care to elaborate?

[Churchill]

I don't know how they do it, but I do know where!

From a big bunker, just outside Sheffield!

[Moscow Mule]

HSBC's profit IS $20billion already...unless of course you mean £20billion???

Now, hold on though...do you really believe HSBC's profits this year without the write downs would be £20billion?

Which would be £6billion more than their nearest rivals (RBS)?

Somehow I dont think so.

So, what is it then? A bit of creative accounting going on or what?

Mailman

HSBC are doing very poorly to only do £6bln more than RBS. They are a considerably larger operation.

[Spacecadet]

$/£ confusion stems from your original post

[Mailman]

without the bad debt write off the profit would have been $20 billion

HSBC's profit IS $20billion already...unless of course you mean £20billion???

Now, hold on though...do you really believe HSBC's profits this year without the write downs would be £20billion?

Which would be £6billion more than their nearest rivals (RBS)?

Somehow I dont think so.

So, what is it then? A bit of creative accounting going on or what?

Mailman

[HRH]

Banks and their staff should wear masks,after all Dick Turpin had the decency to do that! If our society was not awash with thieving feral youths Id get paid in cash and stash it under my floor boards.

[moorfield]

Cheap Indians. I had to leave before I committed a pre-meditated act.

[Xenophon]

HSBC: All your money are belong to us.

[Spacecadet]

without the bad debt write off the profit would have been $20 billion

[Mailman]

They write down £8billion (or was it $$$?) of bad debt YET they still post a profit of £12billion...how does that one work?

Creative accountants?

Mailman