View more on these topics

HSBC gross mortgage lending down 10% in Q1

HSBC’s gross mortgage lending was down 10 per cent year-on-year in the first quarter of 2013.

In Q1 the bank advanced £2.8bn to borrowers, down from £3.1bn in the same period last year.

The total amount HSBC approved in mortgages to UK borrowers was also down over the same period, falling from £4.9bn to £3.2bn.

The bank’s market share declined from 9 per cent to 8 per cent over the same period, based on CML figures showing UK gross mortgage lending for the first quarter of this year totalled £33.8bn.

HSBC’s mortgage book grew from £69.7bn by the end of the first quarter in 2012 to £76.3bn by the end of the first quarter this year.

The group’s profits before tax almost doubled over the same period – up from £4.3bn in 2012 to £8.4bn, reflecting higher revenue and lower loan impairment charges.

HSBC group chief executive Stuart Gulliver says: “We have had a good start to the year, with growth in reported and underlying profit before tax. These results demonstrate our progress in implementing the strategy we set out in May 2011.

“While continuing uncertainty in the global economy has created a relatively muted environment for revenue growth, we have increased revenue in key areas including residential mortgages and commercial banking in both our home markets of Hong Kong and the UK, and in our financing and equity capital markets business.”

Recommended

2

Aviva: Pension charge cap could force providers to rethink commission deals

Aviva warns providers could revisit commission terms agreed with advisers prior to the RDR if the Government introduces a cap on pension charges. Last week, pensions minister Steve Webb published a written ministerial statement setting out plans to consult on capping pension charges later this year. This follows an Office of Fair Trading investigation into […]

Steve Billingham: The seven most common mistakes when building professional relationships

Post-RDR, where the professional standards and qualifications of advisers are more closely aligned with those of solicitors and accountants, many advisers see referral relationships with other professionals as a great opportunity to grow their business. However, developing successful (by which I mean long term and profitable) referral relationships with solicitors and accountants is something many […]

Nic-Cicutti-MM-blog.jpg
16

Nic Cicutti: The attraction of simple products

I have been called many things over the years and I can genuinely say that I don’t mind most of them one bit. But the one thing I have problems with is being told that I don’t like IFAs or their trade bodies. In fact, I hold independent advisers in profound admiration. There are some […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com