HSBC is one of the largest banking and financial services organisations in the world. It has around 89 million customers throughout its four global businesses. It consists of 7,200 offices in over 80 countries. HSBC first opened for business in Hong Kong in 1865.
Adjusted profit before tax of $19.3bn was broadly unchanged following solid performances from our global businesses... 2015 was $19.5bn, so not much change...... without all the fines etc they would be doing very well.
Mixed week for me. Bought a bunch of shares prior to results a lost big time. However, I have a lot of history with HSBC and therefore bought again after the results. This tranche is showing recovery and I expect normal service to be resumed in next few weeks. Only shadow is new comments about further legal actions. Do these banks never learn their lessons. Each of the major UK banks have paid many billions in fines over the last 6-7 years. Without these penalties, even RBS would look to be in… Read More
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