HSBC Takes a $1.3 Billion Hit as Global Tensions Escalate In a move that reflects the far-reaching impact of the ongoing Middle East conflict, London-based banking giant HSBC has announced a significant financial hit, setting aside an extra $300 million to mitigate the effects of the crisis. The bank's shares have taken a hit as a result, with investors growing increasingly concerned about the potential risks to the global economy. The latest quarterly profit figures reveal a 4% decline, with profits falling to $9.4 billion, despite a 6% increase in revenue to $18.6 billion. The bank's troubled private credit sector has also contributed to the decline, with fraud issues adding to the financial strain. As the conflict continues to unfold, it remains to be seen how HSBC and other global banks will navigate the challenges ahead.
London-headquartered bank’s shares slide as it sets aside an extra $300m to cover effects of Middle East conflictBusiness live – latest updatesHSBC has taken a $1.3bn (£961m) hit to profits, fuelled by the fallout from the US-Israel war on Iran and fraud in the troubled private credit sector.The London-headquartered bank said profits fell 4% in the first three months of the year, dropping $100m to $9.4bn, compared with the same period in 2025. Revenue increased 6% to $18.6bn. Continue reading...
