HSBC profits fall amid $400m fraud-related charge and Iran war
by Kalyeena Makortoff Banking correspondent from World news | The Guardian on (#75DDM)
London-headquartered bank's shares slide as it sets aside an extra $300m to cover effects of Middle East conflict
HSBC has taken a $1.3bn (961m) hit to profits, fuelled by the fallout from the US-Israel war on Iran and fraud in the troubled private credit sector.
The London-headquartered bank said profits fell 4% in the first three months of the year, dropping $100m to $9.4bn, compared with the same period in 2025. Revenue increased 6% to $18.6bn.
Continue reading...