Quarterly Profit Falls 37% at Household

Household International Inc., the consumer finance company being bought by HSBC Holdings, said fourth-quarter profit fell 37% as it lost money selling its savings bank.

Net income dropped to $338.2 million, or 66 cents a share, from $533.2 million, or $1.13, in the same period a year ago. The sale of the savings bank cut profit by $240 million because the company had to write down the value of deposits issued at higher-than-current rates, a spokesman said.

Household shares were unchanged at $28.50 on the NYSE.