HSBCs

HSBC’s $1 Billion Loss in Argentina Sends Shockwaves Through Latin America – Find Out Why!

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São Paulo, Brazil – HSBC, a global banking giant, recently announced the sale of its business in Argentina, facing a significant loss of $1 billion. The decision comes after years of struggling with the country’s volatile exchange rate, which has been exacerbated by the highest annual inflation rate in the world at 276.2%. The sale of HSBC Argentina, which includes over 100 branches and 3,100 employees, is being acquired by Grupo Financiero Galicia, a major …

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Chinese Bank Hit Hard in 80% Profit Drop Due to Commercial Property: HSBC’s Struggles in China, Explained

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LONDON – HSBC, a UK-based banking conglomerate that primarily operates in Asia, saw an 80% drop in pre-tax profits in the last three months of 2023. This significant decline was attributed to a $3 billion charge on the value of its stake in a Chinese bank and further write-downs on commercial real estate. The bank’s profits for the fourth quarter shrank to $1 billion from $5 billion the previous year. While the full-year pre-tax profits …

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China Writedown Threatens HSBC’s Record Profit- Click Here for More!

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Hong Kong, China – HSBC, one of the largest banking institutions in the world, reported a $3 billion writedown in China, affecting its annual profits. This news comes as the bank announces its record annual profit for the year 2023, falling short of analysts’ estimates. The drastic drop in profits is due to a significant charge related to its operations in China, which has caused the bank’s shares to tumble. The bank’s pre-tax profits saw …

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