(November 2 – 10:00 ET) –
HSBC Bank Canada, the
Canadian subsidiary of banking
giant HSBC Holdings PLC, is
reporting its third quarter
results.

HSBC Canada earned 16¢ per share
in the period ended September 30,
up from 14¢ in the period last
year – although last year the
quarter ended October 31. While
interest income was up just 4% year
over year, other income rose 30%,
accounting for much of the overall
income gain.

HSBC attributed most of this
boost to improved securities
related income from the acquisition
of Gordon Capital Corp.
Provisions for credit losses also
dropped notably from last year.
These results generated a return
on equity of 19.4% in the period.

-IE Staff