01-01-1970 12:00 AM | Source: Reuters
HSBC's annual profit falls 34% as COVID-19 takes toll
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
HONG KONG/LONDON - HSBC Holdings PLC on Tuesday reported 34% drop in annual profit, slightly better than expectations, after a year in which its global business took a hefty blow from the COVID-19 pandemic.
Europe's biggest bank by assets, which makes the bulk of its revenue in Asia, reported profit before tax of $8.78 billion for 2020 versus $13.35 billion a year earlier.
The profit was higher than the $8.33 billion average of analysts' estimates compiled by the bank.
Latest News
Centre launches portal for nurturing skill developme...
Hyundai, Kia`s Europe sales down 7.5 pc in October
AI-powered voice analysis may revolutionise early di...
Rohit Sharma to join Indian team in Australia on Sunday
Evening Roundup : A Daily Report on Bullion Energy &...
Buy Copper Above 825 SL Below 821 TGT 830/833 - Axis...
Over 9 in 10 Indian leaders anticipate an increase i...
Evening Track : Renewed Geopolitical uncertainty fue...
Mahayuti government is going to be formed: Shiv Sena...
Everything will get clear on the 23rd: BJPs Rahul Na...
