Summary
BANKING group HSBC said yesterday a resilient performance had helped lift first-quarter profits, despite an extra [pounds]3bn in credit crunch losses.
The bank, which also saw its UK share price rise on the back of its announcement, took the losses on bad debts from its US consumer finance business and write-downs on mortgage-backed investments hit by the financial turmoil.See the full content of this document
Extract
Hsbc Profits Up Despite Us Credit Crunch Losses
HSBC said it had increased pretax profits in all major emerging markets, such as Asia and the Midd...
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