H1 2012 profits fell to CHF 187.8m ($197m) compared to CHF195.8m in H1 2011.

Net inflows for HSBC Private Bank also stood at CHF 6.6bn in H1 2012.

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HSBC reportedly wants to change its target client base from smaller, offshore clients to ultra-high net-worth international and domestic customers.

This development, along with a review of certain client relationships, is said to have resulted in a loss of $1.7 billion of client assets in H1 2012.

 

Source: Private Banker International

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