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Consumer banking lifts for HSBC

The retail and small business banking activities of HSBC are looking up, or their earnings are, with both offsetting a steep fall in profit for the institutional banking arm of the group in Australia.HSBC said its retail banking and wealth division in the local market produced a pre-tax profit of US$108 million over the year to December 2016, a rise of US$48 million from 2015.The pre-tax profit for commercial banking lifted to US$74 million from US$51 million.But for HSBC's global markets arm in Australia pre-tax profit dived to US$156 million from US$232 million in 2015.Total assets in Australia lifted to US$19.9 billion from US$18.1 billion.

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