Europe's largest bank posted HSBC’s profits have slumped by 62% in a year, blaming "significant and largely unexpected economic and political events". The bank posted an annual pre-tax profit of $7.1bn (£5.7bn, €6.7bn), far lower than the $18.9bn (€17.8bn, £15bn) it reported a year ago.
HSBC pre-tax profit of £ 7.1bn ($ 5.7bn ), down 62% YoY , missing expectations. The bank blamed "significant and largely unexpected economic and political events" for the plunge in profits.