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HSBC’s profit goes up 79% on the financial restructuring from Covid


HSBC said its first-quarter profits rose by 79% while non-refundable stocks declined and a year-over-year economic recovery from the coronavirus epidemic could likely have halted the return from low interest rates.

Total tax revenue before $ 5.8bn in the three months to March 30, the bank said Tuesday, much larger than the $ 3.3bn analysts suggest. Prices have dropped by 5% to $ 13bn, slightly expected at $ 12.6bn.

“The economic outlook has improved, despite the uncertainties,” said Noel Quinn, chief executive officer. “We’re very active in the second quarter, we’re still saving money, finances, finances and loans.”

Expected debt losses continue to fall sharply in 2020. The bank released $ 400m in bad credit offers during the epidemic, down $ 3bn from the first quarter of last year. $ 600m debt loss related to an oil retailer in Singapore is being investigated because hypocrisy has been tried in the past.

HSBC is in the process of redistributing a $ 100bn package of heavy goods from unsustainable businesses in Europe and the US to Asia, particularly in economic and financial management. It has also promised to cut $ 5.5bn in annual prices and remove 35,000 jobs if the lowest interest rate reduces billions of dollars a year in wages.

HSBC said Tuesday I will continue discussions for sale on its French banking shares although no decision was made. The UK Central Bank is in the process of selling its 230 branches in France to a Cerberus representative body.

With the bank becoming a key figure in the US-China trade war and the future of Hong Kong, Quinn recently told the Financial Times not “photography” on the mind whenever there are arguments.

The first step is benefits I jumped halfway last year the bank doubled its mortgage debt five times as the epidemic forced globalization, sparking fears over economic stability.

Although the idea was already in place by the end of 2020, the full benefits of HSBC’s annual tax return remain down 45 percent.


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