Banking, finance, and taxes
HSBC (HBC) Has $17 Billion Impairment Charge
Published:
HSBC (HBC) announced that its net profit for 2007 rose 21% to $19.13 billion even after profits in North America were virtually wiped out by rising bad debt charges.
According to MarketWatch "In the U.S., pretax profit fell over 98% to $91 million as total impairment charges for the group rose 63% to $17.24 billion."
Douglas A. McIntyre
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