The British bank HSBC saw a sharp fall in profit in the third quarter. The financial concern was hit by the Sino-US trade conflict and the riots in Hong Kong, while Brexiton uncertainties also played at least some role.
The internationally operating HSBC earns the majority of its money in the Greater China region. The bank saw the profit before tax plummet in the reporting period by 18 percent to 4.8 billion dollars. This meant that the result was lower than the average experts had expected. Turnover fell by 2 percent to $ 13.3 billion. An important objective for the return on equity in 2020 was abandoned.
HSBC spoke in an explanation of challenging circumstances and foresees significant depreciation in the coming quarters, because it will take a closer look at the less profitable activities. More details about this are revealed in the annual figures in February.