HSBC shares plunge after bad loan charges drive quarterly loss
Shares in Europe's largest bank fell as much as 4.5% on the loss
HSBC posted an unexpected fourth-quarter loss as income from lending fell, loan-impairment charges increased and it booked fair-value losses on its debt.
The shares fell as much as 4.5 per cent as Europe’s largest bank reported a pretax loss of $858 million (€771 million). Excluding one-time items such as a $773 million charge on movements in the fair value of its debt, the lender had a pretax profit of $1.9 billion. Both measures fell short...
Subscribe from just €1 for the first month!
Exclusive offers:
All Digital Access + eReader
Trial
€1
Unlimited Access for 1 Month
*New subscribers only
Annual
€200
€149 For the 1st Year
Unlimited Access for 1 Year
Quarterly
€55
€42
90 Day Pass
2 Yearly
€315
€248
Unlimited Access for 2 Years
Team Pass
Get a Business Account for you and your team
Related Stories
Lucinda Creighton: Britain’s underhand tactics are the actions of a despotic nation
The behaviour of David Frost in the EU talks has led to Britain again breaching its obligations, with severe implications for Northern Ireland
Seven key takeaways from AIB’s 2020 accounts as it posts €741m loss
The bank reported significant losses in 2020 as the pandemic pummelled business
Willie O’Reilly: RTÉ’s digital shutdown is a lost opportunity
The decision to dump digital audio broadcasting 15 years into this service is a poor strategic move which may have to be revisited in the future
Susan O’Keeffe: Gardaí and teachers are on the frontline and deserve early vaccines
Both groups put themselves at risk every day to keep society functioning, but they have received little by way of appreciation
