So how does HSBC do it? So how does HSBC do it?
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  1. #1

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    Default So how does HSBC do it?

    They write down £8billion (or was it $$$?) of bad debt YET they still post a profit of £12billion...how does that one work?

    Creative accountants?

    Mailman

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    without the bad debt write off the profit would have been $20 billion

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    HSBC: All your money are belong to us.
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    Banks and their staff should wear masks,after all Dick Turpin had the decency to do that! If our society was not awash with thieving feral youths Id get paid in cash and stash it under my floor boards.

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    Quote Originally Posted by Spacecadet View Post
    without the bad debt write off the profit would have been $20 billion
    HSBC's profit IS $20billion already...unless of course you mean £20billion???

    Now, hold on though...do you really believe HSBC's profits this year without the write downs would be £20billion?

    Which would be £6billion more than their nearest rivals (RBS)?

    Somehow I dont think so.

    So, what is it then? A bit of creative accounting going on or what?

    Mailman

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    $/£ confusion stems from your original post

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    Quote Originally Posted by Mailman View Post
    HSBC's profit IS $20billion already...unless of course you mean £20billion???

    Now, hold on though...do you really believe HSBC's profits this year without the write downs would be £20billion?

    Which would be £6billion more than their nearest rivals (RBS)?

    Somehow I dont think so.

    So, what is it then? A bit of creative accounting going on or what?

    Mailman
    HSBC are doing very poorly to only do £6bln more than RBS. They are a considerably larger operation.
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    I don't know how they do it, but I do know where!

    From a big bunker, just outside Sheffield!

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    Quote Originally Posted by Churchill View Post
    I don't know how they do it, but I do know where!

    From a big bunker, just outside Sheffield!


    care to elaborate?

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