HSBC Q3 profit before tax declinedChristian Fernsby ▼ | October 27, 2020
HSBC third quarter profit before tax declined to $3.07 billion from last year's $4.84 billion.
HSBC Profit attributable to ordinary shareholders fell 54 percent
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. ■