Live
- Indian students' concerns about employment, safety, and visas discourage them from applying to UK universities
- Candlelight Concerts Makes a Dazzling Debut in Hyderabad with Sold-Out 'Tribute to Coldplay' Show
- Shubman Gill Sustains Thumb Injury Ahead of Perth Test; Devdutt Padikkal Joins Test Squad
- Unlock Loot Boxes, Diamonds, Skins, and More Exciting Rewards with Garena Free Fire Max Redeem Codes for November 16
- Regarding the DOGE Plan, Vivek Ramaswamy stated, "Elon Musk and I Will Take a Chainsaw to Bureaucracy"
- Sudanese army says repulsed paramilitary forces attack in western Sudan, killing over 80
- Jaipur Open 2024: Baisoya makes a grand comeback to clinch title in marathon playoff against Rashid Khan
- Jamaat-e-Islami Hind President asks cadre to reach out to larger society beyond community
- Why PM mum on Caste Census, removing 50 pc quota limit: Rahul Gandhi
- Barrackpore Municipality Vice-Chairman found dead at home, suicide note suggests blackmail
HSBC reports loss worth $1.3 bn in 2015's Q4
HSBC Holdings Plc on Monday reported a net loss of $1.3 billion in the fourth quarter of 2015, compared with total profit of $511 million during the same period last year.
HSBC Holdings Plc on Monday reported a net loss of $1.3 billion in the fourth quarter of 2015, compared with total profit of $511 million during the same period last year.
"(The year) 2015 was marked by some seismic shifts in global economic conditions, most notably the continuation of a sharp decline in commodity and oil prices, in part attributable to growing concerns over China's slowing economic growth," said Douglas Flint, the chairman of the HSBC Group, in a statement.
The British-headquartered multinational banking company reported that it faced a $0.4 billion rise in bank levies that raised the company's adjusted operating expense, EFE news reported.
Meanwhile pre-tax profits for the year were worse than expected at only $18.85 billion.
To ease customer's concerns, the bank has announced it will increase dividends per share from $0.50 in 2014 to $0.51.
The results come just days after the bank decided to keep its headquarters in London rather than moving to Hong Kong, the hub which contributes to the majority of its profits.
