141% increase in HSBC profit

H1B1 profit rose 141 percent in FY7010 Photo: AFP
H1B1 profit rose 141 percent in FY7010 Photo: AFP
HSBC, a UK-based multinational banking firm, increased 141 percent profit in the year 2017. That year tax-prior profits have been 17.2 billion dollars In the year 2016, the company's profit was $ 7.1 billion.

Basically, the expansion of business expansion and boosting Asia's growth has boosted profits, HSBC said.

HSBC profits $ 18.9 billion in 2015 In 2016, the profit fell significantly. One of the reasons was the losses from selling Brazilian business. In 2011, the bank's pre-tax profit came from 89.3 percent or 15.3 billion dollars in Asia. However, losses in Europe amount to 1.9 billion dollars

Although HSBC is one of the UK's largest banks, its major share of profit comes from outside the UK. Especially from the Asia region The bank authorities said that the regional Asian trade agreement and hopes of a loan with China's belt and road projects are expected.