HSBC Pre-tax Profits Fall 29% As Brexit Bites

Mohammad Ali (@ChaudhryMAli88) Published August 03, 2016 | 11:09 AM

HSBC pre-tax profits fall 29% as Brexit bites

HONG KONG, (UrduPoint / Pakistan Point News - 3rd Augst,2016) - HSBC said Wednesday profit before tax plunged 29 percent in the first half of 2016 to $9.7 billion, after "exceptional volatility" during a turbulent six months ending in Britain's decision to leave the EU. Group chairman Douglas Flint said Brexit had "not been anticipated" but insisted that the bank had come through the period "securely".

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