The Traderszone Network

Published in TZ Latest News 4 August, 2014 by The TZ Newswire Staff

HSBC says reform pressures unprecedented as first half profits drop

HSBC (HSBA.L) said it was facing unprecedented demands on its staff and operations from regulatory reforms as it reported a 12 percent drop in profits in the first half of the year. Europe’s biggest bank said on Monday pretax profits in the six months to the end of June were $12.3 billion, down from $14.1 billion (8.37 billion pounds) a year earlier and just below an average forecast of $12.5 billion from 15 analysts polled by the company.

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