HSBC Holdings plc has released its Interim Management Statement (IMS) for the first quarter of 2012, marking a good start led by Commercial Banking, Global Banking and Markets, and Retail Banking Wealth Management.
Much of revenue growth has come from faster-growing, emerging economies like Hong Kong, Rest of Asia-Pacific and Latin American regions, said a press release.
Underlying profit before tax (PBT) for 1Q12 was up 25% compared with 1Q11 to US$6.8bn.
The main factors driving this improvement were increased revenues in Global Banking and Markets, Commercial Banking and Retail Banking and Wealth Management, the latter from faster-growing regions.
Stuart Gulliver, HSBC Group Chief Executive, said, "We have had a good start to the year. Our PBT growth has been driven by increased revenues in Global Banking and Markets and Commercial Banking. We also increased Retail Banking and Wealth Management revenue in faster-growing regions.