HSBC first-quarter profit halves on increased loan loss provisions due to coronavirus crisis
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HONG KONG/LONDON (Reuters) - HSBC Holdings PLC's first-quarter profit nearly halved from a year-ago, missing estimates, after boosting provisions against bad loans as the coronavirus pandemic hits borrowers worldwide.Europe's biggest bank by assets said profit before tax came in at $3.21 billion (2.59 billion pounds) for January-March, down from $6.21 billion a year ago and below an average analyst forecast of $3.67 billion compiled by the bank.The bank increased its expected credit impairment..