fintech / news / / Birmingham Live
HSBC profits have fallen amid a $400m fraud-related charge and the Iran war.
HSBC took a $400 million loss due to a UK fraud case linked to private equity loans.
KEY POINTS
- The bank set aside $300 million over increased risks from the Iran war and economic uncertainty.
- HSBC's total expected credit loss charge rose 50% year-on-year to $1.3 billion.
- HSBC did not disclose the specific companies involved in the fraud-related charge.
COMPANIES
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