HSBC reports profits fell 30% to $6.1bn in 2020

Publish February 23, 2021
banking

Reported profit after tax came in at $6.1 billion which the bank blamed primarily on higher-than-expected credit losses

HONG KONG: HSBC said Tuesday its post-tax profits for 2020 plunged 30 percent on-year after the Asia-focused banking giant took a hammering from the coronavirus pandemic and spiralling tensions between China and the West.


Reported profit after tax came in at $6.1 billion which the bank blamed primarily on higher-than-expected credit losses and other bad debts sparked by the currrent economic crises.

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