HSBC Bank Canada’s income falls

HSBC Bank Canada yesterday said adjusted profit in the first quarter was up eight per cent as the bank slashed operating expenses. Net income for the three months ending 31 March declined to C$171m (£110m), or 34 Canadian cents a share, from C$201m, or 40 Canadian cents a share, in the same period a year ago, the Vancouver-based lender stated. Total assets advanced to C$84.4bn from C$80.7bn a year earlier.