HSBC says it is to cut jobs to save cash and focus on building earnings in Asia after reporting a 34% drop in annual pre-tax profits to £6.2bn during 2020. Europe’s largest bank revealed a revised strategy including a greater…
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HSBC profit dives 65% as it warns loan losses could hit £10bn
HSBC saw its pre-tax profit plummet by 65% in the first half of the year as the UK’s largest bank was forced to hike funds to cover bad loans due to the coronavirus. The lender reported profits of $4.3bn (£3.2bn)…
HSBC to invest further in China amid political strife over Hong Kong law
HONG KONG (Reuters) – HSBC Holdings Plc (HSBA.L) said on Friday it would make new investments in its wealth management and insurance operations in mainland China. The announcement comes at a time when the UK-headquartered bank is under fire from…