Accounts for the bank show that revenues increased by 13 per cent from $1.76 billion to $1.99 billion in the 12 months to the end of December last.Last year’s pre-tax profits were boosted by an impairment release for credit losses of $152 million and this followed an impairment charge of $439 million under the same heading in 2020.
Investment income last year increased by 29 per cent, from $405 million to $522 million, while net trading income increased by 58 per cent, from $168 million to $265 million.The accounts said the overall increase in revenues was driven by net trading income resulting from growth in global economic activity.
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