Adjusted net operating income and pre-tax profits both fell precipitously at HSBC’s restructured wealth and personal banking (WPB) division during the first half of 2020, according to the interim results released yesterday (3 August).
Net operating income at WPB, which now encapsulates global private banking (GPB), came in at $11.25 billion, a $1.61 billion or 13 percent fall on the $12.86 billion reported for the first half of 2019.
Pre-tax profits fell from the $...
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