All
 

 

Just in:  

You are here: Home»Business»Banking & Finance»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 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,516.27 0.68
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58





where to buy

cheap wedding dresses

online - weddingdresstrend.com

Buy cheap Nike Mercurials cleats at mercurialscleats.com
cheap wedding dresses on SiteSteer.com - Best Online Wedding Store


Banking Review 2013


Buy direct from

China free shipping trade platform

Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln