HONG KONG (Reuters) – HSBC reported a 25% fall in first-quarter profit on Tuesday, beating market expectations, due to one time charges related to disposals of its banking business in Canada and Argentina.
The London-based bank reported profit before tax of $9.5 billion in the first quarter. That compared with $12.7 billion a year earlier and the $7.8 billion average of analyst estimates compiled by the bank.
(Reporting by Selena Li in Hong Kong and Lawrence White in London; Editing by Sonali Paul)
