Mon, 24 Feb 2014 13:34:19 GMT
HSBC profit misses predictions as cost decreases fall short of targets
HSBC Holdings Plc, the biggest bank in Europe, released a worse-than-expected profit for the year 2013, as the costs' cuts did not reach the goal. The pretax income added 9% to $22.6 billion, while economists forecasted a $24.6 billion profit. ROE indicator fell short of estimates as well. Today, HSBC Holdings Plc shares are trading down 3.5% to 631.5 pence