HSBC Writes Off £1.3bn
May 22nd, 2008
HSBC, has written off $2.6bn (£1.3bn) because of the ongoing credit crunch. However, the bank has announced that its profits for the first three months of this year exceeded the same period last year, and this appears to be true for all countries where HSBC operates. This is Money quotes Chief executive Michael Geoghegan speaking on …
