Subprime losses by bank in 2007 show HSBC at number 1

Today we look back at early 2007 to see HSBC as a major factor in US subprime. The SEC provided a list of subprime mortgage write-offs early in the crisis. HSBC held the number one spot. Without a doubt HSBC also attracted the attention of regulators. Here are subprime write-offs, listed by bank: HSBC – …

Sukuk default and Islamic finance not perfect for HSBC

HSBC Holdings plc’s Saudi affiliate, booked $93.7 million in provisions for loan losses during the third quarter. “We may see some extra provisions in the fourth quarter but most banks will come clean by early 2010,” said Adnan Ahmed Yousef, president of Union of Arab Banks. Arab banks set aside $3.5 billion so far this …

Countrywide lost 97 billion while HSBC lost 50 billion

How did HSBC make out with their purchase of Hosuehold International? While the question did not matter much until 2005, that is when trouble struck. HSBC Finance Corp/HSBC Holdings plc was the ninth biggest loser, reporting about $50.3 billion in subprime losses while WMC Mortgage Corp/General Electric Co came tenth with loan losses of around …

HSBC Latin America losses to peak next year

HSBC may be optimistic with this forecast: HSBC Holdings PLC (HBC) doesn’t expects loan losses at its Latin American operations to peak until the middle of the year as the region faces headwinds from the global economic downturn in the coming months, a top executive said Thursday. “I think in the next six months we …