HSBC profit drops after Iran war and private credit charges bite

City AM — May 05, 06:29 AM

HSBC gave its first quarter update on Tuesday. https://www.cityam.com/wp-content/uploads/2024/05/HSBC-1200-x800-2.jpeg?w=1107" />

HSBC missed its profit target in the first quarter of the year after the blue-chip lender booked a mammoth credit charge.

The FTSE 100 giant – which boasts a huge £230bn market cap – recorded a pre-tax profit of $9.4bn (£6.5bn), missing the $9.6bn pencilled in by analysts.

This figure is also down $100m on https://www.cityam.com/hsbc-profit-drops-after-iran-war-and-private-credit-charges-bite/">[...]

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