HSBC Bank Canada says one-time gains helped boost its second-quarter profit by 21.9 % to $89 million or 18¢ a share. That compared with $73 million or 15¢ a share for the same period to June 30 a year earlier.

The Vancouver-based bank said six-month earnings benefited from a $4-million gain on sale of a subsidiary in the second quarter and a $9-million change in accounting for mortgage loan prepayment fees in the first quarter.

“Results for the quarter were encouraging and reflect good momentum in our core businesses. We continued to attract new customers, which contributed to strong asset growth in our personal and commercial customer groups,” CEO Lindsay Gordon said in a release.

“However, the continued competitive environment, particularly in residential mortgages and personal deposits, has impacted our net interest margins.”

Total assets rose to $40.8 billion from $36.1 billion.