HSBC’s 2023 profit nearly Tk 1,000cr

HSBC Bangladesh has registered a record profit of nearly Tk 1,000 crore in 2023, making it one of the most profitable banks in the country. The 70% year-on-year profit surge was attributed to a rise in interest income and investment income from treasury bills and bonds. However, the bank’s income from commissions dropped by 21%. HSBC increased its investments in high-yielding treasury bonds but reduced its loans and advances during the year. The bank also witnessed a 17% hike in classified loans.