December 20, 2014 6:59 AM ET

Banks

Company Overview of HSBC Bank Canada

Company Overview

HSBC Bank Canada provides various financial products and services to small and medium-sized companies, and individuals in Canada. The company’s Commercial Banking segment offers various financing, including overdrafts, term loans, and leasing, as well as syndicated, leveraged, acquisition, and project finance; letters of credit, collections, and guarantees; receivables finance; supply chain solutions; risk distribution products; domestic and cross-border payments, collections, liquidity management, and account services; and capital raising, foreign exchange, and interest rate products. Its Global Banking and Markets segment provides various products and services, which include currency, inte...

885 West Georgia Street

Vancouver, BC V6C 3E9

Canada

Founded in 1981

Phone:

604-685-1000

Fax:

604-641-3098

Key Executives for HSBC Bank Canada

Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Senior Vice President
Age: 49
Chief Executive Officer of HSBC Canadian Direct Insurance Incorporated and President of HSBC Canadian Direct Insurance Incorporated
Compensation as of Fiscal Year 2014.

HSBC Bank Canada Key Developments

HSBC Bank Canada Declares Dividends on Preferred Shares, Payable on December 31, 2014

HSBC Bank Canada declared regular quarterly dividends of 31.875 cents per share on Class 1 Preferred Shares -- Series C and 31.25 cents per share on Class 1 Preferred Shares -- Series D. Dividends will be paid on 31 December 2014, for shareholders of record on 15 December 2014.

HSBC Bank Canada Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

HSBC Bank Canada reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported interest income of CAD 478 million against CAD 511 million for the same period in the last year. Net interest income was CAD 303 million against CAD 319 million for the same period in the last year. Total operating income was CAD 520 million against CAD 522 million for the same period in the last year. Net operating income was CAD 503 million against CAD 513 million for the same period in the last year. Operating profit was CAD 231 million against CAD 242 million for the same period in the last year. Profit before income tax expense was CAD 231 million against CAD 251 million for the same period in the last year. Profit attributable to common shareholders was CAD 163 million or CAD 0.32 per basic common share against CAD 168 million or CAD 0.34 per basic common share for the same period in the last year. Cash flows used in operating activities was CAD 9 million against cash flows generated from operating activities CAD 82 million for the same period in the last year. Return on average common equity was 14.5% against 16% for the same period in the last year. Post-tax return on average total assets was 0.77% against 0.78% for the same period in the last year. The decrease in profit before income tax expense for the third quarter of 2014 compared with the same period last year was primarily due to lower net interest income from the continued planned run-off of the consumer finance portfolio, lower net trading income from foreign exchange products, lower income from associates and higher loan impairment charges, arising from a release of specific provisions in the comparative period. For the nine months, the company reported interest income of CAD 1,445 million against CAD 1,562 million for the same period in the last year. Net interest income was CAD 917 million against CAD 995 million for the same period in the last year. The decrease from the comparative periods in 2013 was primarily due to declining loan balances from the continued planned run-off of the consumer finance portfolio. Total operating income was CAD 1,591 million against CAD 1,637 million for the same period in the last year. Net operating income was CAD 1,521 million against CAD 1,488 million for the same period in the last year. Operating profit was CAD 697 million against CAD 688 million for the same period in the last year. Profit before income tax expense was CAD 706 million against CAD 702 million for the same period in the last year. Profit attributable to common shareholders was CAD 495 million or CAD 0.99 per basic common share against CAD 452 million or CAD 0.91 per basic common share for the same period in the last year. Cash flows used in operating activities was CAD 1,865 million against cash flows generated from operating activities CAD 2,755 million for the same period in the last year. Return on average common equity was 15.0% against 14.3% for the same period in the last year. Post-tax return on average total assets was 0.78% against 0.71% for the same period in the last year.

HSBC Bank Canada Announces Executive Appointments

HSBC Bank Canada announced the appointment of Mr. Frank Venturo as Senior Vice President and Country Head of Business Banking. Mr. Venturo is responsible for helping Canadian companies become larger, more global players through the banks international and domestic banking services. Mr. Venturo joined the bank in 2011 after 20 years with a major Canadian bank. He has over 25 years of experience in Commercial Banking and has held a variety of positions in Corporate, Commercial, Credit and Risk and other senior roles. The bank is also announced the appointment of Ms. Raman Rai as Senior Vice President, Head of Global Payments and Cash Management. Ms. Rai is responsible for enabling Canadian companies to realize their potential for international and domestic success by supporting their global banking and sophisticated cash management needs through the banks Group's international network. Ms. Rai started her career in corporate banking in Canada; she then moved to the bank Group to undertake various international business and strategy roles and in 2011, became the Global Head of the bank’s Business Banking segment operating in over twenty five countries.

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