DBRS Morningstar: HSBC Bank Canada Reports Growth in Q3 2019 Earnings; Improved Operating Efficiencies
HSBC Bank Canada (HSBC or the Bank) reported Q3 2019 net income of $150 million, a 24% increase from the previous quarter, largely driven by a reduction in both operating expenses and credit impairment charges. Total revenue declined 2% as growth in financial investments was offset by declines in both net interest and net fee income.
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