hsbc
Pre-tax profit dropped in the first quarter for British lender HSBC Holdings Plc compared to the same period of the previous year, the bank reported on Tuesday. HSBC reported that its first-quarter profit before tax dropped to $12.65 billion from last year's $12.89 billion. Profit after tax was $10.84 billion, compared to $11.03 billion a year ago. However, earnings per share grew to $0.54 from last year's $0.52 on lower share count. The latest results included a $4.8 billion gain following the completion of the disposal of banking business in Canada, partly offset by a $1.1 billion impairment...
DPA Breaking News
HSBC Latin America BV, a wholly-owned subsidiary of HSBC Holdings, has signed a binding agreement with Buenos Aires-based Grupo Financiero Galicia to sell its business in Argentina. The agreement involves the acquisition of all of HSBC Argentina's business, which includes banking, asset management, and insurance. The deal also encompasses $100 million of subordinated debt issued by HSBC Argentina and held by other HSBC entities. The consideration for the acquisition amounts to $550 million, which will be adjusted for the results of the business and fair value gains or losses on HSBC Argentina'...
DPA Breaking News
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