The bank said that its profits saw a decline in the third quarter.
HSBC announced that its profits tumbled in the third quarter on impairment charges associated to a weak economic outlook and the planned sale of its French retail operations. HSBC’s share price slid 7 percent in morning deals. HSBC also declared a change in management with the appointment of a new chief financial officer as the Asia-focused lender faces headwinds in China and global recession prospects.
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