LONDON, May 7 (Reuters) - HSBC's first quarterprofits fell 20 percent from a year ago to $6.8 billion asrevenue dipped at its investment bank, while last year'searnings were swelled by asset sales.
HSBC, which is Europe's biggest bank but made two thirds ofits profit last year in Asia, said it had continued toexperience "muted customer activity" in April.
The bank on Wednesday reported a pretax profit of $6.8billion, down from $8.4 billion a year ago but just above the average forecast of $6.6 billion from 13 analysts polled by thecompany. Underlying profits, stripping out gains from disposalsand movement in the value of its own debt, was $6.6 billion,down 13 percent from a year ago. (Reporting by Steve Slater; Editing by Matt Scuffham)
HSBC Holdings (HSBA)
