HSBC Holdings PLC posted a higher-than-expected 65% tumble in first-half pre-tax profit as the coronavirus pandemic and its impact on businesses forced the Asia-focused bank to boost its loan-loss provisions. Europe’s biggest bank by assets reported a pre-tax profit for the first six months this year of $4.32 billion, down from $12.41 billion in the same period a year earlier, according to its financial statement filed with the stock exchange on Monday. HSBC’s results reinforced the trend of lenders across the world increasing their buffers to absorb souring loans at a time when companies – from aviation …read more
Source:: Yahoo Finance
