The Sun
UK · 3 hrs ago
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Blow to HSBC as banking giant misses first quarter profit forecasts
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HSBC reported first-quarter pre-tax profits of £6.96 billion, slightly down from the previous year, as bad debt provisions increased by 50 per cent to £960 million, missing profit forecasts.
Blow to HSBC as banking giant misses first quarter profit forecasts
HSBC has missed first-quarter profit forecasts after bad debt provisions jumped by half. The UK-based banking giant reported pre-tax profits of £6.96billion, down from £7billion a year earlier. It was driven by a big jump in expected credit losses, which rose 50 per cent to £960million. The figures add to concerns over private credit risks after rival UK...
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