Hong Kong HSBC 's profits plunged in the first half of this year as the bank was weighed down by the coronavirus crisis.
The London-based lender said that pre-tax profit in the first half of the year fell 65% to $4.3 billion compared to the same time last year as revenue fell and as credit losses were worse than expected."Our first half performance was impacted by the Covid-19 pandemic, falling interest rates, increased geopolitical risk and heightened levels of market volatility," CEO Noel Quinn said in a statement.
This is excellent news. Delighted that this has happened to an organisation that openly exploits its customers. Banks are not with you 'every step of the way', they're there to grossly exploit your lifetime of work for the delight of their super greedy shareholders. HSBC
It surely can't just be COVID. They have been complacent for far too long and the value for money they offer is much lower than a lot of their high street competitors not to mention the likes of monzo and RevolutApp that have totally disrupted the market
Cnnsucksdonkeyballs
What's the betting they will want a bail out...
Boo hoo.......cry me a River.....
Not as much money to launder, I guess.
I'm sure they'll still get their six figure bonuses though
revealing customer information to America this kind of bank is going to bankruptcy
Ayy lmao