The bank’s performance in 3Q2019 was ‘challenging’ and the operating environment ‘difficult’, according to Noel Quinn (pictured), group chief executive.
HSBC reported an adjusted profit before tax that was down 12% and an adjusted revenue decline of two percent for the third quarter of 2019. Positives aspects to its business performance were seen notably in Asia, where profit was up four percent to US$4.7 billion, with a ‘resilient’ performance in Hong Kong. HSBC Bank was the issuing party for 918 structured products (excluding flow and leverage) across seven different markets during the third quarter of 2019, up from 751 products
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