HSBC Subsidiary Results

HSBC Holdings PLC
1 June 2001


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
          2000 RESULTS - HIGHLIGHTS AND KEY FIGURES
                              
Due to the economic upturn in 2000, Banque Chaix increased
income for the sixth year running.

Pre-tax profit was FRF148.18 million (EUR22.59 million), up
25.1 per cent, and net profit for 2000 was FRF84.74 million
(EUR12.92 million), up 13.5 per cent compared to 1999.

Net banking income was FRF367.70 million (EUR56.06 million),
compared to FRF341.38 million (EUR52.04 million) for 1999.
This represented an increase of 7.7 per cent.

Net fees and commissions increased sharply (up 20.3 per
cent) to FRF118.22 million (EUR18.02 million) in 2000.

Gross operating profit increased by 18 per cent to FRF171.15
million (EUR26.09 million) as a result of increased net
banking income, while operating costs were kept under
control and remained stable (up 0.1 per cent in 2000).

Total customer savings (customer deposits - sight deposits
included - mutual funds, life insurance and other funds
under management) grew by 9.1 per cent to FRF9,907 million
(EUR1,510 million) during 2000. Sight deposits increased by
a very high rate of 14.7 per cent.

Overall customer lending rose 13.5 per cent to FRF2,928
million (EUR446 million). This increase was fuelled mainly
by equipment loans to corporate customers, which increased
by 12.2 per cent over 1999. Consumer credit recorded an
excellent performance in 2000, up 18.6 per cent over 1999.

In 2001, Banque Chaix will offer its customers new services
including Internet banking. It will also intensify its
policy of focusing on local markets. It will do this by
reinforcing its sales teams and by opening new branches (in
Uzes, Les Angles and Tarascon, all in the south of France).

For personal customers Banque Chaix will improve its wealth
management service in 2001. It is broadening its term life
insurance products by offering 'Theoreme', and its asset
management service with 'Avantage PEP Dynamique', a unit
linked savings plan.

For commercial customers, Banque Chaix is completing the
creation of centres of expertise in management and transfer
of business assets, wine growing and wine making,
international operations, remote data transmission and
employee savings schemes. It will create a new business
development team, based in Banque Chaix's headquarters in
Avignon, for commercial and corporate customers.


Notes to editors:

Banque Chaix is wholly-owned subsidiary of CCF. CCF became a
member of the HSBC Group in July 2000. With some 6,500
offices in 79 countries and territories and assets of US$674
billion at 31 December 2000, HSBC is one of the world's
largest banking and financial services organisations.


2000 - key figures

In millions                  2000        2000       1999       1999  Variance
                         in euros   in francs   in euros   in francs      (%)

Net Banking Income          56.06      367.70      52.04     341.38      +7.7
 Including net fees and     18.02      118.22      14.98      98.28     +20.3
 commissions
 Operating costs            29.96      196.55      29.93     196.34      +0.1
Gross Operating Profit      26.09      171.15      22.11     145.04     +18.0
 Bad debt provisions         1.95       12.78       1.73      11.32     +12.9
Pre-tax profit              22.59      148.18      18.05     118.42     +25.1
Net profit after tax        12.92       84.74      11.38      74.65     +13.5
Cost:income ratio                       55.9%                 57.2%

Total Assets                  897       5,886        902      5,917      -0.5
 Customer loans               446       2,928        393      2,579     +13.5
 Customer deposits            729       4,787        680      4,464      +7.2

Off-balance sheet
 Mutual funds, life insurance,
 and other funds under
 management                   781       5,120        703      4,614     +11.0