HSBC Q3 profit declines 14% on legal provisions; core earnings rise
NegativeFinancial Markets

HSBC reported a 14% decline in profit for the third quarter, primarily due to legal provisions that impacted their financial results. However, the bank's core earnings showed resilience, indicating a strong underlying performance despite the challenges. This news is significant as it highlights the ongoing legal issues facing major banks and the balancing act they must perform between compliance costs and maintaining profitability.
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