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HSBC Q3 profit before tax declined

Christian Fernsby ▼ | October 27, 2020
HSBC third quarter profit before tax declined to $3.07 billion from last year's $4.84 billion.
HSBC
HSBC   Profit attributable to ordinary shareholders fell 54 percent
Profit attributable to ordinary shareholders fell 54 percent to $1.36 billion from $2.97 billion a year ago.

Topics: HSBC

The company said the results were supported by significantly reduced ECL charge and continued good cost management

Adjusted profit before tax was $4.30 billion, compared to $5.42 billion a year ago.

Revenues for the quarter declined 10 percent to $12.07 billion from $13.35 billion a year ago. Adjusted revenue was down 10 percent to $12.1 billion. The results were positively impacted by $652 million movement in volatile items.


 

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