HSBC profits fall amid $400m fraud-related charge and Iran war
London-headquartered bank’s shares slide as it sets aside an extra $300m to cover effects of Middle East conflict
https://www.theguardian.com/business/live/2026/may/05/hsbc-400m-uk-fraud-charge-rachel-reeves-scott-bessent-row-stock-markets-car-sales-live-updates">Business live – latest updates
HSBC has suffered a $1.3bn (£961m) hit to profits, fuelled by the fallout from the US-Israel war on Iran and fraud in the https://www.theguardian.com/business/2025/oct/18/what-is-private-credit-us-first-brands-tricolor-banks">troubled private credit sector.
The London-headquartered bank said profits fell 4% in the first three months of the year, dropping $100m to $9.4bn, compared with the same period in 2025.
Revenue increased 6% to $18.6bn.
https://www.theguardian.com/business/2026/may/05/hsbc-profits-fall-fraud-related-charge-iran-war">Continue reading...HSBC profit falls amid war impact
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