The chief executive of HSBC, Michael Geoghegan, said that despite a ‘resilient' start to the year, it had seen little sign of an end to the recession.
Speaking after a regular meeting of central bankers in Switzerland, Trichet said the European Central Band was ‘cautiously optimistic'.
The conflicting views have angered analysts. HSBC has not released details of its finances for the beginning of the year. It reported only that its pre-tax profits were ‘well ahead' of its year-on-year figures.
Barclays released a statement last week detailing its start to the year. Profits in Barclays' retail and commercial banking arm almost halved in the first three months of 2009 as UK consumers and businesses struggled to repay loans and overdrafts.
However, Barclays Capital, its investment banking arm, generated income of £5bn, more than double the figure for the same period of 2008.
Barclays and the Lloyds Banking Group have both predicted a sharp increase in bad debt charges this year, supporting HSBC's concerns.
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