HSBC Republic(Suisse)Interims

HSBC Hldgs PLC
21 August 2000



The following is an English translation of a news release
issued in French by HSBC Holdings' subsidiary in Switzerland.


   HSBC REPUBLIC BANK (SUISSE) S.A. REPORTS NET PROFIT OF
      CHF62.4 MILLION FOR THE FIRST SIX MONTHS OF 2000


HSBC Republic Bank (Suisse) S.A., a leader in private banking
and part of the HSBC Group, one of the world's largest banking
and financial services organisations, reported the following:

*  Net profit after tax for the six months ended 30 June 2000
   reached CHF62.4 million, compared with CHF51.1 million for
   the same period last year, a 22 per cent increase.

*  Total client assets, on and off-balance sheet, grew to
   CHF39.1 billion at 30 June 2000 compared with CHF34.3
   billion at 30 June 1999. On 31 December 1999, total client
   assets were CHF38.1 billion.

*  Total shareholders' equity rose from CHF860.2 million at 30
   June 1999 to CHF973.8 million at 30 June 2000, which
   includes net income for the six months ended 30 June 2000.

*  In July of this year the Geneva branches of HSBC Investment
   Bank and HSBC Bank Middle East integrated successfully into
   HSBC Republic Bank (Suisse) SA. This added USD8.4 billion
   (CHF13.6 billion) in client assets under management,
   bringing the total client assets to CHF52.7 billion.

*  The European treasury activities of the HSBC Republic
   group, responsible for 12 private banking locations, were
   consolidated in Geneva and, with 42 professionals, makes it
   one of the world's largest dedicated private banking
   treasury/bourse operations.

During the period, the Zurich branch initiated a recruitment
programme and the Lugano branch inaugurated a new building.
Total client assets for both the Zurich and Lugano branches
grew from CHF4.8 billion and CHF1.9 billion, respectively, at
30 June 1999 to CHF5.4 billion and CHF2.0 billion,
respectively, at 30 June 2000.

Similarly, HSBC Republic's information technology group is to
be centred in Geneva and will provide 7-day a week/24-hour a
day technology support, utilising 250 professionals from
around the world in New York, Hong Kong and London.


BALANCE SHEET STRUCTURE AND CLIENT ASSETS AT 30 JUNE 2000
At 30 June 2000, total assets were CHF18.1 billion, an
increase of CHF1.9 billion (up 11.7 per cent) over the balance
at 30 June 1999. This growth was due mainly to a 60 per cent
increase in financial fixed assets and to a 19 per cent
increase in amounts due from customers.

On balance sheet client deposits rose from CHF12.4 billion at
30 June 1999 to CHF13.5 billion at 30 June 2000 (up 8 per
cent). At 30 June 2000, off-balance sheet client portfolio
assets stood at CHF25.6 billion compared with CHF21.9 billion
at 30 June 1999 (up 17 per cent).

Due to the rise in shareholders' equity to CHF973.8 million,
the bank decided to repay in full its subordinated debt of
CHF80 million.


STATEMENT OF INCOME FOR THE FIRST SIX MONTHS OF 2000
Net interest income increased by 18 per cent between the six
months ended 30 June 1999 and 30 June 2000, rising from
CHF63.2 million to CHF74.6 million. This increase reflected
the growth of the interest earning assets of the bank.

Commission income from products and services reached CHF112.3
million at 30 June 2000 in comparison with CHF83.5 million for
the six months ended 30 June 1999. This 35 per cent increase
was due primarily to greater market volatility and an increase
in client trading transactions and good proprietary trading
results.

Trading income amounted to CHF16.9 million at 30 June 2000, as
compared with CHF7.0 million at 30 June 1999. This 141 per
cent growth was due to the increase in client transactions.

The total of other income/loss revealed a loss of CHF28.4
million at 30 June 2000, compared with a gain of CHF20.0
million at 30 June 1999. The loss in 2000 related to the sale
of investment securities while repositioning the bank's
investment portfolio.

For the first six months, operating expenses reached CHF103.4
million at 30 June 2000, compared with CHF86.7 million at 30
June 1999. This increase was primarily due to employee
compensation accruals and staff recruitment in relation to the
expansion of the Geneva operations.

The bank's Gibraltar subsidiary was liquidated on 31 March
2000, resulting in an extraordinary gain of CHF23.8 million.
The HSBC Republic group relocated all of the existing business
in Gibraltar to the Channel Islands where the group had a
historically strong presence.

The Board of Directors and the Executive Committee of the bank
express their appreciation to all staff in Geneva, Zurich,
Lugano and Guernsey for their efforts to achieve the interim
results.


Notes:

1) HSBC Republic
HSBC Republic Bank (Suisse) S.A. is part of HSBC Republic, the
international private banking division of the HSBC Group.
Headquartered in Geneva, HSBC Republic has operations in 29
locations worldwide, capital of US$2.2 billion and employs
2,800 professionals to serve the wealthy, their families and
manage client assets of US$135 billion around the globe.

2) HSBC Holdings plc
HSBC Holdings plc is headquartered in London and quoted on the
London, Hong Kong, New York and Paris stock exchanges. With
some 6,000 offices in 81 countries and territories, the HSBC
Group is one of the world's largest banking and financial
services organisations.

HSBC Holdings plc made a profit before tax of US$5,206 million
in the first six months of 2000 and at 30 June 2000 had
capital resources of US$47 billion and total assets of US$580
billion.