HSBC sees second-quarter profits plunge by 82 per cent thanks to coronavirus

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HSBC sees second-quarter profits plunge by 82 per cent thanks to coronavirus

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HSBC warned it could take provisions for bad loans of as much as US$13 billion this year as its second-quarter pre-tax profits dropped by more than 80% compared to the same period last year. The bank blames the slump on weakening business activity globally because of the coronavirus pandemic.

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