The bank said that pre-tax profits in a turbulent six months to June had dived to $9.7 billion year-on-year.
The bank said that pre-tax profits in a turbulent six months to June had dived to $9.7 billion year-on-year.
Hong Kong:
HSBC said Wednesday its half-year profits had plunged 29 percent and that the bank was heading into a -"period of heightened uncertainty-" after Britain voted to leave the European Union.
The bank said that pre-tax profits in a turbulent six months to June had dived to $9.7 billion year-on-year, although it assured it had weathered the Brexit storm -"securely-".
However, group chairman Douglas Flint said UK business was now entering a new era as Britain negotiates its departure from the EU.
-"It is evident that we are entering a period of heightened uncertainty where economic risks are being overshadowed by political and geo-political events,-" Flint said.
He added that establishing fresh terms of trade with EU and global partners would be -"complex and time-consuming-".
Group chief executive Stuart Gulliver predicted tough times ahead, saying volatility is -"likely to continue for some time-".
HSBC's net profit for the first half also fell 28 per cent from the same period in 2015, dropping to $6.91 billion
