Plans in progress to make HSBC HQ ‘a net-zero building’, says CEO

As HSBC Bank announced its financial results for the nine-month period ending 30th September 2022, CEO Simon Vaughan Johnson spoke of "a study being carried out in collaboration with the Malta Chamber of Commerce" which sees the bank move towards having a net-zero building at their Qormi campus.

“We are a founding member of the Malta ESG Alliance, highlighting our ongoing commitment to decarbonise our operations and promote the transition to a net-zero economy," Mr Vaughan Johnson stated adding that "as part of this drive, the bank made significant progress on a study, being carried out in collaboration with the Malta Chamber of Commerce, to make our campus at 80 Mill Street, Qormi a net-zero building and to use the experience and learnings to establish a blueprint for transitioning commercial buildings across Malta into more sustainable environments."

Speaking of HSBC's financial results in the January to September 2022 period, the CEO praised the bank's performance.

"We delivered a good set of results in the first nine months of the year with very strong foreign exchange performance and sustained good progress in fee income despite the removal of the high balance fee," he stated in this regard.

"We also started experiencing an increase in net interest income on the back of rising interest rates. We continue to deliver on our safe growth strategy and are focused on executing our plans," Mr Vaughan Johnson stated.

In the nine-month financial results, HSBC's reported profit before tax amounted to €33.5 million, an increase of €8.3 million over the same period last year. Adjusted profits, which represent reported profits excluding significant items, amounted to €34.8 million compared to €28.6 million reported last year. Revenues were also €2.9 million higher than those reported in Q3 2021.