HSBC's profits plunged in the first half of this year as the bank was weighed down by the coronavirus crisis
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.
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