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HSBC's profits decline 26% amid China losses, announces $3 billion buyback

1 min read
Source: Reuters
HSBC's profits decline 26% amid China losses, announces $3 billion buyback
Photo: Reuters
TL;DR

HSBC's first-half profit fell 26% to $15.8 billion due to impairments from its stake in China's Bank of Communications and exposure to Hong Kong real estate, with the bank warning of potential future profit misses amid US trade tensions and ongoing restructuring efforts.

Topics:top-newsbusiness#banking-restructuring#business#china-losses#credit-losses#hsbc#profit-decline
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  1. HSBC first-half profit slumps 26% as China losses mount  Reuters
  2. HSBC announces $3 billion share buyback after second-quarter profit misses estimates  CNBC
  3. HSBC profits slide after $2.1bn charge and expenses climb  Financial Times
  4. HSBC profits slide 26% as tariff uncertainty puts brakes on investment  The Independent
  5. HSBC launches $3bn share buyback despite second-quarter profit plunge  uk.finance.yahoo.com

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