HSBC profit slump adds to bank sector virus woes

Energy Daily Tuesday, 4 August 2020 ()
HSBC profit slump adds to bank sector virus woesHong Kong (AFP) Aug 3, 2020

HSBC on Monday reported a 69-percent slump in net profit, joining a number of major banks whose earnings have been slammed by the coronavirus fallout. HSBC announced earnings of $3.1 billion (2.6 billion euros) compared with almost $10 billion in the first six months of 2019, as spiralling China-US tensions also hurt the British-based but Asia-focused lender. Alongside HSBC results, top
0
shares
 
Video Credit: PA - Press Association STUDIO - Published
News video: HSBC profits drop 65% due to coronavirus

HSBC profits drop 65% due to coronavirus 00:59

 HSBC has suffered a 65% drop in pre-tax profit in the first half of the yearas Europe’s largest bank was struck by a dive in interest rates andcoronavirus disruption. The bank reported profits of 4.3 billion US dollars(£3.2 billion) in the half year to June 30, down from 12.4 billion dollars(£9.5...