HSBC’s Third Quarter Currency Income Drops on Lower Volatility

HSBC Holdings Plc (HSBA), the fifth-largest currency dealer as ranked by Euromoney Institutional Investor Plc (ERM), said foreign-exchange income declined in the quarter ended Sept. 30 from a year earlier.

While combined revenue from financial markets improved 71 percent to $2.2 billion, income from foreign exchange decreased 20 percent to $736 million, because of a decline in “market volatility compared to the particularly high levels of 3Q 2011,” the London-based bank said today in a regulatory statement.

Deutsche Bank AG (DBK) and UBS AG (UBSN), the first- and fourth-placed currency dealers, said last week their foreign-exchange incomes fell in the third quarter.

To contact the reporter on this story: Neal Armstrong in London at narmstrong8@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.