HSBC (US) Q1 net profit up 20% to US$181 mln; bad debts soar

US HSBC announced in the Q1 earnings report ended to March, 2001 that its net profit surged 20.7% to reach US$181 mln, while the bad debt soared by 70% to US$47.55 mln as a result of the slowdown of US economy, with interest difference narrowed. The rise in profit can be attributed to the non-interest income, and the whole prospect will still be affected by the slacking US economy.

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