HSBC reports decline in profits

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters

HSBC Holdings Plc., Europe's biggest bank in terms of market value, reported a drop in profit of 53% or $1 bn in the 3rd quarter from previous year. Bad debt provisions climbed from $3.15 bn to $3.89bn. According to HSBC representatives, global economy faces challenges that hurt emerging markets, hinder growth and thereby reduce bank's profit.

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