(CNBC) HSBC on Tuesday reported first-quarter earnings that missed expectations after the bank set aside more money for potentially larger loan losses due to the coronavirus pandemic and weakening oil prices. The bank, Europe’s largest by assets, said its pre-tax profit fell 48% year-over-year to $3.23 billion in the first quarter of 2020, below an average analyst forecast of $3.67 billion compiled by HSBC.
HSBC’s first-quarter profits drop by nearly half as coronavirus hits
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