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HSBC Profits Halved by Pandemic Fallout

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You're listening to the news at this hour. Africa Business Radio K. Chess SPEC- says its first. Prophets have almost halved due to the impact of the current virus pandemic pre-tax profits for the first three months of the year came in at three point. Two billion dollars down from six point two billion dollars a year ago. The bank increased its expectation of bad loans. Which are likely to be paid to three billion dollars. Us defaults from nineteen and. It's all prices slum. However he's confirmed Eastwood puts plans to axe basically five thousand jobs on hold to support staff during the outbreak. The london-headquartered Bank one that's the negative effects of the pandemic on the global economy would mean an increase and a number of bad loans. And that was the news. At this time on Africa Business Radio you can continue to listen live online at. Www Africa business radio dot com offer amicable APP. Thank you for listening.

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