HSBC made its highest ever profit before tax of $1,214 million on its private banking activities during 2006. This was a 33 percent increase on 2005.

Overall private banking, one of HSBC's core businesses, represented 5.5 percent of Group profits of $22,086 million, an improvement on 4.4 percent in 2005.

At 31 December 2006, HSBC Private Bank had $408 billion of client assets under management and 6,500 employees located at 90 locations around the world.

The full 2006 results for HSBC Holdings plc are available on hsbc.com.

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