Sunday 27 February 2011

HSBC 'won't cut and run' as profits poised to reach £12bn - Scotsman.com

HSBC will pledge its long-term commitment to the Middle East this week when it completes the big banks' reporting season with a near-trebling in profits.

The bank is the most geographically diverse of Britain's big four and is expected to state unequivocally that it remains committed to its Middle East operations despite the rising death toll and widespread political upheaval in Libya, Egypt and Bahrain.

The bank has a long-standing presence in the region, with operations in many countries, including Egypt, Bahrain, Algeria, Jordan, Kuwait, Lebanon, Oman and Iraq. It also has a representative office in Libya and an associate banking company in Saudi Arabia.

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