The comments were made by Wang Jingwu, a vice president at the world s largest lender, at a press conference held a day after its annual results were published. Wang did not specify what kind of support ICBC would provide.
(Bloomberg) HSBC Holdings Plc reported fourth-quarter profit fell 80% after taking unexpected charges on holdings in a Chinese bank and from selling its French retail operations. Shares slid in London.Most Read from BloombergYour 401(k) Will Be Gone Within a DecadeLargest Covid Vaccine Study Yet Finds Links to Health ConditionsPlay VideoUS Tells Allies Russia May Launch Anti-Satellite Nuclear Weapon Into Space This YearUS Stock Futures Slip Ahead of Nvidia Earnings: Markets WrapPretax profit
HSBC was stung by China’s economic slowdown after a “messy” quarter including a $3bn (£2.4bn) writedown sent its share price tumbling by 8pc in one of the worst falls in the bank’s history.