In a challenging year for both the economy and the financial sector HSBC Trinkaus reported satisfactory results for 2009. Operating profit of 196.4 million was broadly in line with the 2008 figure of 200.6 million, while net profit for the year grew by 21.9 per cent to 109.2 million, from 89.6 million in 2008. The return on equity before tax was 17.1 per cent, compared with 15.2 per cent in 2008.
This performance is based on the bank’s business model which is characterised by building long-term relationships with our clients in clearly defined target groups. In its 225th year, the bank has demonstrated its business model is flexible enough to adapt to changing market conditions and be successful even in the most severe of crises.At the end of 2009 the rating agency Fitch once again confirmed HSBC Trinkaus’ AA rating, unchanged since December 2007, ensuring HSBC Trinkaus remained the highest rated private commercial bank in Germany. This is testimony to HSBC Trinkaus’ professionalism, risk-aware strategy, earnings strength and full membership of the HSBC Group.
These strengths put HSBC Trinkaus in a good position to take advantage of market opportunities to generate growth and increase market share across all its operating divisions. In addition, the benefit of being part of the HSBC Group permits HSBC Trinkaus to pursue its strategy, being a leading bank of choice for the international business of corporate and institutional clients and a significant provider of services for wealthy private clients in Germany. HSBC Trinkaus will continue to expand its client base and product offerings and a higher number of employees will ensure that its clients’ needs are properly served.
D.C.