Banque Chaix 2001 Results

HSBC Holdings PLC
30 July 2002

The following text is the English translation of a news release issued in France
by Banque Chaix, a wholly-owned, indirectly-held subsidiary of HSBC Holdings
plc.

                   BANQUE CHAIX - 2001 RESULTS AND HIGHLIGHTS

Banque Chaix benefited from favourable economic conditions in 2001, achieving
earnings growth for the seventh consecutive year.

Pre tax profit rose 15.6 per cent to €26.11 million in 2001 and profit after tax
increased by 33.1 per cent to €17.20 million.

Net banking income totalled €61.09 million compared to €56.06 million in 2000,
an increase of 9 per cent. Net fee income increased to €18.93 million.

Gross operating profit grew by 14.8 per cent to €29.95 million. Operating
expenses rose by 3.9 per cent to €31.14 million.

Total on and off balance sheet customer savings (savings, sight deposits,
securities, mutual funds and insurance) rose by 7.7 per cent to €1.65 billion.
Sight deposits continued to grow at a rapid pace, rising by 9.8 per cent.

Total loans outstanding at the end of the year rose by 8.6 per cent per cent to
€512.6 million. This increase was driven by equipment loans to businesses, which
rose by 13 per cent, and consumer credit, which rose by 14 per cent.

2001 highlights:

* The expansion of the branch network continued, with the opening of two new
branches in Uzes and Les Angles.

* Banque Chaix also launched an ambitious five-year branch refurbishment
programme in order to make branches more welcoming and functional. Five branches
were renovated in 2001.

* The internet banking service, launched at the start of the year, was an
immediate success with both personal and business customers with 1,500 users
registered in nine months.

2002 outlook:

* The bank will bolster its regional presence by strengthening its sales teams,
and by increasing its presence in high-potential areas, including the opening of
a new branch in Tarascon.

* All customers of Banque Chaix's 66 branches will benefit from the bank's five
Customer Advice Centres, which now offer advice on a broad range of banking
activities including international banking, wealth management and inheritance
services and services for winegrowers and corporate customers.

                                2001 in figures
€ m                                                                2001                2000                 %

Net banking income                                                61.09               56.06             +9.0%
of which net fee income                                           18.93               18.02             +5.0%
Operating expenses and depreciation                               31.14               29.96             +3.9%
Gross operating profit                                            29.95               26.09            +14.8%
Provisions for bad and doubtful debts                              3.64                1.95            +86.7%
Pre-tax profit                                                    26.11               22.59            +15.6%
Cost:income ratio                                                  51.0 %              55.9 %

Total Assets                                                    1,014.7               897.0            +13.1%
Customer loans                                                    512.6               472.1             +8.6%
Customer deposits                                                 841.4               744.9            +12.9%

Off-balance sheet
Mutual funds, life insurance, other
 funds under management                                           801.0               781.0             +2.6%

Note to Editors

Banque Chaix is a 100 per cent owned subsidiary of CCF. CCF became a member of
the HSBC Group in July 2000. With some 7,000 offices in 81 countries and
territories and assets of US$696 billion at 31 December 2001, HSBC is one of the
world's largest banking and financial services groups.





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