HSBC also sees Covid consequences

The UK-headquartered bank reported that its first half of 2020 performance was impacted by the ‘Covid-19 pandemic, falling interest rates, increased geopolitical risk and heightened levels of market volatility’. As such, profit after tax down was down  over two-thirds (69%) on the first half of 2019, to $3.1 billion because of higher expected credit losses and other credit impairment charges (‘ECL’) and lower revenue, primarily outside of its Asia business – s