HONG KONG/LONDON: HSBC reported an unexpected $400 million loss linked to a fraud case in Britain on Tuesday, causing it to slightly undershoot first-quarter profit estimates and raising questions about bank lending to the $3.5 trillion private credit industry.
Europe's largest bank posted pretax profit of $9.4 billion for January-March, versus $9.5 billion a year earlier and the $9.59 billion average of broker estimates compiled by HSBC.
