UK bank HSBC fell short of analyst expectations with a 16% rise in profits for 2018, and pointed to uncertainty around Brexit as a major contributing factor. The bank saw pre-tax profits hit $21.3bn for the year, below analyst forecasts of $19.9bn, following declines in fixed income revenues and a challenging Q4. In addition to Brexit, the bank highlighted difficulties arising from the US-China trade war, as well as uncertainty in terms of future interest rates.
UK bank HSBC fell short of analyst expectations with a 16% rise in profits for 2018, and pointed to uncertainty around Brexit as a major contributing factor. The bank saw pre-tax profits hit $19.9bn for the year, below analyst forecasts of $21.3bn, following declines in fixed income revenues and a challenging Q4. In addition to Brexit, the bank highlighted difficulties arising from the US-China trade war, as well as uncertainty in terms of future interest rates.