HSBC Puts Aside $2B For Legal Troubles, Still Faces Libor Risk
- Tuesday, July 31, 2012, 3:03
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HSBC reported earnings for the first half of 2012 Monday morning, and the headline figures looked decent with profit up 11% from a year earlier to $12.7 billion. Excluding $4.3 billion in profit from asset sales and a $2 billion boost tied to the valuation of its own debt, the bank earned just $10.4 billion, down 8.8% from the prior year.
http://www.forbes.com/sites/steveschaefer/2012/07/30/profit-slips-at-hsbc-bank-puts-aside-2b-for-legal-troubles/
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