Susid's Rslts to 30 Sept 2000

HSBC Hldgs PLC
9 November 2000


The following text is the English translation of a news
release issued in German by HSBC Holdings plc's subsidiary
company.

 HSBC TRINKAUS & BURKHARDT RESULTS TO 30 SEPTEMBER 2000
          OPERATING PROFITS RISE 20.5 PER CENT

HSBC Trinkaus & Burkhardt, Dusseldorf, which is approximately
73.5 per cent indirectly-owned by HSBC Holdings plc,
increased its operating profit for the first nine months of
2000 by 20.5 per cent to EUR 104.6 million compared to the
same period of the previous year. Pre-tax profit increased by
24.6 per cent to EUR 109.5 million, and in the third quarter,
at EUR 27.9 million, was 40.2 per cent higher than for the
same period in 1999. Consolidated net profits for the first
nine months rose 26.6 per cent to EUR 59.0 million.

This very satisfactory trend in profitability is attributable
to a continuing improvement in customer business. Both
corporate and private client business again recorded
significantly higher returns, with particularly strong growth
in business with institutional investors.

Net interest income rose in the first nine months by 25.2 per
cent to EUR 54.7 million. New credit risk provisions were
further reduced, without any relaxation of strict lending
criteria, to EUR 1.1 million from EUR 4.4 million. Net
interest income after provisions rose by 36.4 per cent to EUR
53.6 million. Net fees and commissions grew by 31.6 per cent
to EUR 175.4 million mainly on the strength of higher
revenues from securities business. Within this figure,
commission income from new issues more than doubled. Overall,
net fee income was three times higher than net interest
income. Dealing profits of EUR 52.5 million did not quite
match 1999's good performance of EUR 57.7 million due to
disappointing results in interest rate trading.

Administrative expenses rose by 21.5 per cent to EUR 177.4
million due to rising staff numbers, the start-up costs of
pulsiv AG and higher profit-related remuneration. The number
of employees grew to 1,470, up by 13.3 per cent compared with
December 1999. The cost-income ratio at the operating level
stood at 61.6 per cent, compared to 61.3 per cent for the
same period last year.

Earnings per share, applying International Accounting
Standards, rose by 27 per cent to EUR 2.26. In the third
quarter earnings per share reached EUR 0.59, compared to EUR
0.39 the year before. Annualised pre-tax return on equity
rose from 20.2 per cent to 23.3 per cent.

The consolidated balance sheet grew by 4.3 per cent compared
to its level at 31 December 1999, to EUR 11.99 billion.
Shareholders' funds were EUR 617.9 million. At the end of
September 2000, the total capital base represented 10.5 per
cent of risk-weighted assets, with the core capital ratio
standing at 7.1 per cent.

The nominal amount of outstanding derivatives business at 30
September 2000 stood at EUR 88.75 billion, compared to EUR
77.86 billion at 31 December 1999. The market risk of
outstanding derivatives transactions, calculated according to
BIS standards, fell over the same period from EUR 17.7
million to EUR 11.6 million.

The Managing Partners view the pleasing results of the first
nine months as a renewed endorsement of the bank's customer-
centred strategy. They are confident that the positive trend
will continue in the fourth quarter, so long as no crises
intervene. Under such conditions the bank should be in a
position to lift the dividend once again, thereby continuing
its investor-oriented dividend policy.