HSBC profit plummets by 33% to €12bn

The bank says parts of its business are not performing well enough.

HSBC has reported a 33% fall in pre-tax profit for 2019 to $13.35bn (€12bn), below analysts’ expectations and those of its own chief executive.

The bank said the drop was due to “a goodwill impairment” of $7.3bn (€6.7bn).