LONDON, Aug. 3 (Xinhua) -- British multinational investment bank HSBC on Monday announced a profit slump for the first half of 2020, with profit before tax dropping to 4.3 billion U.S. dollars in the period, down 65 percent year-on-year.
The bank's expected credit losses increased by 5.7 billion dollars to 6.9 billion dollars. The reported revenue decreased by 9 percent to 26.7 billion dollars.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!