HSBC announces further $1.4bn in bad debts

British banking group HSBC today revealed an extra $1.4bn ($954m) hit in its American mortgage business as it continues to suffer from the country's sub-prime lending crisis.

HSBC announces further $1.4bn in bad debts
Wed, 14 Nov, 2007 - 16:15

British banking group HSBC today revealed an extra $1.4bn ($954m) hit in its American mortgage business as it continues to suffer from the country's sub-prime lending crisis.

The charge follows last year's $10.6bn (€7.2bn) bad debt exposure, which led to the first profits warnings in HSBC's history.

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