HSBC profit slumps 62% as it sets $1bn share buy-back
Impairment of goodwill in private banking and sale of Brazilian unit hit profits
HSBC’s Swiss deposits drop by almost half
Bank comes close to admitting its Swiss branch was used to facilitate tax evasion and money laundering, and says its deposits have dropped to $68bn since it initiated project to improve standards
HSBC statement in full
‘We have taken significant steps over the past several years to implement reforms and exit clients who did not meet strict new HSBC standards’
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