HSBC Securities Services saw almost $2 bn in revenues in 2018.
Growth of 6 percent in the net fee income from the global custody business, yo $736 million was among the many positive points for the banking giant when it came to its securities administration last year.
This is all according to the recently released result reports for last year, relayed by Global Custodian.
This was despite assets under custody shrinking 4 percent, to $7.400 million, and assets under administration backing down 2 percent, to $3.500 million.
Global Custodian concludes that the results were similar to those recently presented at BNP Paribas Securities Services.