HSBC: revenues down despite strong structured derivatives performance

Revenue dropped four percent to US$12.6 billion mainly due to ‘lower revenue in markets and securities services (MSS) and the impact of lower interest rates’. On an interim basis, the revenue decreased by four percent to US$25.6 billion, leading to a net profit of US$8.4 billion, up 58.5% YoY, according to the bank’s latest results. At the end of June, HSBC, which is led by group chief executive Noel Quinn ( pictured ), had derivative assets of US$209.5 billion and deriv