hsbc profit hit by 800mn set aside for us fine
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

HSBC profit hit by $800mn set aside for US fine

Arab Today, arab today

Arab Today, arab today HSBC profit hit by $800mn set aside for US fine

Doha - Arabstoday

HSBC has taken a $1.15bn hit to cover a potential US fine for lax anti-money laundering controls and to pay compensation for mis-selling products in Britain, eating into its quarterly profit. While HSBC’s earnings were helped by a sharp drop in bad debts, it set aside $800mn to cover a potential fine from US regulators for breaches in anti-money laundering controls in Mexico, adding to $700mn put aside in July. HSBC, Europe’s biggest bank, said yesterday that no agreement had been reached with US authorities and the final resolution will likely involve criminal as well as civil charges. It said there was a high degree of uncertainty estimating the final cost and it was possible the amount will be significantly higher. The bank reported an underlying profit — after stripping out the impact of disposals and changes in the value of its own debt — in the July-September quarter of $5.0bn, up from a revised $2.2bn a year earlier. HSBC took another $353mn charge for mis-selling in Britain, mainly for payment protection insurance. Shares in HSBC were down 2.6% by 0832 GMT, the biggest faller in the FTSE 100 index and trailing a 1.4% fall in the European banking index.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

hsbc profit hit by 800mn set aside for us fine hsbc profit hit by 800mn set aside for us fine

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

hsbc profit hit by 800mn set aside for us fine hsbc profit hit by 800mn set aside for us fine

 



GMT 23:17 2016 Wednesday ,23 November

Egyptian women's football team defeats Zimbabwe 1-0

GMT 02:33 2017 Tuesday ,26 September

US will go to Pyeongchang, confident in security, safety

GMT 17:39 2016 Sunday ,16 October

Wrong intel ‘led to Sanaa strike’

GMT 08:24 2016 Thursday ,31 March

Argentine Senate to vote

GMT 05:12 2017 Wednesday ,22 March

EU deplores ‘surreal’ stand by US on world trade

GMT 10:22 2017 Wednesday ,18 October

Britain's MI5 says running over 500 terror probes

GMT 14:36 2017 Saturday ,19 August

Queen of Soul Aretha Franklin moving back

GMT 19:33 2016 Wednesday ,10 August

BMW Korea to Recall Nearly 12,000 Cars in South Korea

GMT 21:52 2017 Thursday ,27 July

Sara Malocco PR handles Giovanni Raspini

GMT 13:48 2017 Sunday ,15 October

Bahrain to host eCommerce Forum/Exhibition 2017

GMT 18:50 2017 Monday ,01 May

Ukraine clings to nuclear power

GMT 14:45 2017 Tuesday ,28 November

Kids the bait in football shark pool
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday