2024-02-22 | Industry Dynamics
HSBC Faces Steepest Share Drop Since 2020 As Profits Drop 80%
Today’s News HSBC witnessed its most substantial share decline since 2020 following an 80% drop in quarterly profit and a USD 3 billion charge on its stake in a Chinese bank. The bank reported pre-tax profits of USD 1 billion for the final quarter of 2023, down from USD 5 billion the previous year. […]