Just in:  

You are here: Home»Business»Banking & Finance»HSBC Q3 profit dented by $800mn hit for US fine

HSBC Q3 profit dented by $800mn hit for US fine

hsbc LONDON: HSBC Holdings took another $1.15 billion hit to cover a potential US fine for lax anti-money laundering controls and UK mis-selling on Monday, eating into quarterly profits at Europe's biggest bank.


HSBC's earnings were aided by a sharp drop in bad debts, but it set aside another $800 million to cover a potential fine from US regulators for breaches in its anti-money laundering controls in Mexico, adding to $700 million set aside in July.


It also took another $353 million charge for UK mis-selling, mainly for payment protection insurance.

The bank reported an underlying profit - after stripping out the impact of disposals and changes in the value of its own debt - in the July-September quarter of $5 billion, up from a revised $2.2 billion a year earlier.


Copyright Reuters, 2012


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln