HSBC profit slumps 18% in Q3


The HSBC headquarters building in Hong Kong. The banking behemoth’s pre-tax profits slipped 18% to US$4.8 billion in the third quarter, it says today. – AFP pic, October 28, 2019.

HSBC’S interim chief executive today said the banking giant was underperforming in parts of Europe and the United States, as third-quarter profits slipped and the lender warned of further headwinds.

The Asia-focused behemoth has been trying to lower costs as it faces the double uncertainties caused by the grinding US-China trade war and Britain’s impending departure from the European Union.


Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one (1) week free access!

Subscribe Now!


Sign up or sign in here to comment.


Comments