HSBC Bank Canada today reported net earnings of $128 million for the quarter ended Dec. 31, 2006, down 3% from $132 million for the same period a year earlier.

The bank said its annual income for the year ended Dec. 31 2006 was $497 million, an increase of 8.8% from $457 million in 2005.

Non-interest revenue for the fourth quarter of 2006 was $168 million, up $27 million or 19.2%, compared with the fourth quarter of 2005.

For the year ended Dec. 31, 2006, non-interest revenue was $651 million, up $81 million or 14.2%, than the same period in 2005.

“Results for the fourth quarter and for the year were good, reflecting strong growth in our commercial banking business and good momentum in our wealth management businesses,” said Lindsay Gordon, president and CEO, in a news release.

“Our focus for 2007 will be to continue this momentum and build for sustained growth by continuing to reinvest in key businesses and leveraging the group’s global distribution network and systems platforms.”