HSBC Trinkaus & Burkhardt AG announced earnings results for the first nine months of 2014. For the period, Pre-tax profit was down slightly to EUR 152.5 million against EUR 163.5 million. Operating revenues increased to EUR 515.4 million against EUR 507.3 million. Net interest income improved to EUR 130.4 million against EUR 124.3 million, the increase was primarily due to an improvement in net interest income earned in the client lending business, partially offset by lower levels of interest income from financial assets as a result of adverse market conditions. Net profit came to EUR 102.2 million against EUR 117.7 million. Adjusting for the impact of the withdrawal from Luxembourg, operating revenues increased by 1.6% to EUR 515.4 million against EUR 507.3 million.

A slight increase in revenues is still expected for 2014 despite the withdrawal from Luxembourg. The Bank still expects that the decline in pre-tax profit can be limited to a single-digit percentage in spite of the transformation and investment process.