HSBC sees annual profit slump by 33%
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HSBC has said its profits for 2019 fell by 33%, mainly due to its investment and commercial banking operations in Europe.
The bank, which makes the bulk of its revenue in Asia, reported annual profit before tax of $13.35bn (£10.3bn).
HSBC also said it was targeting $4.5bn of cost cuts by 2022 while scaling back $100bn of assets.
It currently operates in more than…
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