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HSBC sets new cost cutting, profit targets after 2019 profit falls 33%

FILE PHOTO: HSBC logos are seen on a branch bank in the financial district in New York
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HONG KONG/LONDON (Reuters) - HSBC Holdings PLC on Tuesday unveiled plans to cut costs and simplify its structure to boost earnings, after its 2019 profit dropped 33% hit by one-time write-offs linked to its investment banking and commercial banking businesses in Europe.The wider strategy overhaul comes amid slowing economic growth in HSBC's major markets, an outbreak of a fast-spreading..
Date Published: Feb 18, 2020
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