HSBC’s Profits Jump to $5.1bn

HSBC’s Profits Jump to $5.1bn

Banking major HSBC reported a surge in pre-tax quarterly profits to $5.1bn vs. $1.1bn last year, beating estimates of $3.7bn. For H1, pre-tax profits stood at $10.8bn, more than double the 1H number last year. Revenues fell 4.5% YoY to $25.55bn in H1. While its...
HSBC Exits US Retail Banking

HSBC Exits US Retail Banking

HSBC exited its mass market US retail banking business to focus on using capital towards their ‘international wealth clients’ across Asia. The bank will exit 90 of their 148 branches, retain a network of 20-25 branches that will be transformed into international...
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