BBCNEWS Business Briefing February 18, 2020
Europes biggest bank by assets, hsbc holdings, has posted a 33 fall in annual pre tax profit, massivly below expectations. The bank which makes half of its revenue and 90 of its profits in asia posted a profit of 13. 35 billion for 2019, down from 19. 89 billion a year earlier. Lets go to our Asia Business hub, where Maura Fogarty is following the story. Good to see you, maura. Lets start with that big drop in earnings. Do we know more detail as to whats going on . Yeah, essentially, they have written down about 7 billion worth of their business in europe. That tells you exactly just how pessi...