• Sat
  • Sep 20, 2014
  • Updated: 1:30am

Marine Midland Bank

Turnaround is still a distant prospect for HSBC investors

Shareholders got a pleasant surprise yesterday, when banking giant HSBC announced first-half profits of US$8.9 billion, up 35 per cent from the same period last year.

Tuesday, 2 August, 2011, 12:00am

US credit problems to weigh on HSBC earnings

HSBC Holdings will continue to be haunted by credit problems in its United States mortgage business this year and it is likely that the bank will take a more conservative approach to acquisitions, analysts said.

10 Feb 2007 - 12:00am

Customer wins small victory over banking giant

A businessman won a $5,300 payout from HSBC yesterday after it delayed a multi-million-dollar remittance to his account.

Xu Xiao-feng, director of XL International, was awarded $3,324 interest plus $2,000 in legal costs by the Small Claims Tribunal.

23 Nov 1999 - 12:00am

HSBC unit up 25pc

HSBC Americas, the North American arm of HSBC Holdings which owns Marine Midland, has reported a 25 per cent jump in third quarter net income to US$101 million, against $81 million last year.

23 Oct 1996 - 12:00am

Improved outlook for operating environment promises to add lustre to first-half

HSBC Holdings should post a healthy increase in interim profits, helped by a first half that offered a markedly better operating environment than the first six months of 1994.

'I think the first half will be very strong,' said Baring Securities' Carmel Wellso, who is expecting a 17.9 per cent rise in attributable earnings to GBP1.1 billion (about HK$13.6 billion).

10 Aug 1995 - 12:00am

Marine Midland switch

MARINE Midland Bank has applied to convert from a nationally chartered bank to a state-chartered bank, with a view to streamlining the regulatory administration, bringing it in line with the HSBC group's other operations in the US.

Both Hongkong Bank USA and Midland Bank of Britain have branches in New York state, running under a state chater.

24 Sep 1993 - 12:00am

Profits rise 82pc as Marine writes back debt provisions

HSBC Holdings' US flagship, Marine Midland, yesterday reported an 81.88 per cent rise in first-half earnings to US$79.3 million on the back of a drop in poor-quality loans and a hefty write-back of provisions.

Second-quarter earnings were $45.3 million, against $41 million in the same period last year.

21 Jul 1993 - 12:00am

Marine Midland surges on US$40m tax credit

A US$40 million tax credit because of changed accounting standards has helped Marine Midland Bank, the US flagship of HSBC Holdings, increase first-quarter earnings from $2.6 million to $34 million.

The bank also made no provision for loan losses, against the $40.5 million provision made in the first quarter of 1992.

23 Apr 1993 - 12:00am