HSBC Holdings PLC's first-quarter profit tumbled a worse-than-expected 48% after boosting provisions against bad loans as the coronavirus pandemic hits borrowers worldwide. Europe's biggest bank by assets said profit before tax came in at $3.21 billion for January-March, down from $6.21 billion a year ago and below an average analyst forecast of $3.67 billion compiled by the bank. ALSO READ: MARKET LIVE: Sensex, Nifty in the green; IndusInd Bank, HDFC top gainers HSBC said last week it is pressing ahead with plans outlined in February to shift capital from ...
Piglets aborted, chickens gassed as Covid-19 pandemic slams meat sector
Coronavirus: The world is cross with China; some are even demanding damages
HSBC first quarter profit falls 48% as coronavirus pandemic hits borrowers
Europe's biggest bank by assets said profit before tax came in at $3.21 billion for January-March, down from $6.21 billion a year ago
Topics
HSBC Holdings | Coronavirus
Reuters Last Updated at April 28, 2020 13:24 IST
First Published: Tue, April 28 2020. 13:24 IST
This article is no longer available in our repository.
There could be multiple reasons for this.
You could try searching for this headline on the source website (reuters.com).