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HSBC Profits Decline

Pre-tax profit in HSBC fell to $3.61 billion in the 3 months to June, down 45% year on year. HSBC has stated that the retail banking and wealth management has been impacted by slower client activity. This led to a lower revenue in the wealth business.

Two-thirds of the HSBC’s profit came from Asia in the first half of 2016, up from 62% in the same time last year.

News Source: CNBC

 

About HSBC

HSBC
HSBC

The Hong Kong and Shanghai Banking Corporation Limited (NYSE:HSBC) was established in 1865 to finance the growing trade between Europe, India and China. HSBC was born from one simple idea – a local bank serving international needs. Today, it covers 71 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America with around 4400 offices in both established and emerging markets, serving around 46 million customers through the Four Global Businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking.

  • Origin : London, UK
  • Assets : Euro 21.67 billion
  • Revenue : Euro 721.3 million
  • Employees : 266,000

Official Website: www.hsbc.com





News & Media: Press Release

Updated on 8th August 2016





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