The UK bank's full-year earnings remained strong despite impairment charges curbing its profit in the fourth quarter; structured products raised US$22 bn in sales.
HSBC Holdings has posted its profit before tax shrink 80% year-on-year (YoY) to only roughly US$1 billion in the fourth quarter of 2023 as the bank was hit by impairment charges related to its holding in a Chinese bank and the sales of its French retail banking businesses, according to its latest earnings report. Recent macroeconomic, policy and industry factors resulted in a wider range of reasonably possible value-in-use outcomes for our BoCom valuation Out of all impairment charges, a US$