Business
HSBC Joins World’s Top Banks, Raises Bad Loan Reserves, And Profit Misses Estimates
On May 22, 2020 by BabilessEurope’s biggest bank, HSBC, has raised its bad-loan reserves by a whopping $3.03 billion for the first quarter of 2020, an exchange filing submitted at the end of April shows. This will be the bank’s highest bad-debt reserve level in nine years, the clearest indication yet that the current economic crisis could be worse
