Coronavirus: Dive in interest rates sees HSBC profits drop 65%

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HSBC has suffered a 65% drop in pre-tax profit in the first half of the year as Europe’s largest bank was struck by a dive in interest rates and coronavirus disruption.

The bank reported profits of $4.3bn billion (€3.65bn) in the half year to June 30, down from $12.4bn (€10.5bn) in the same period in 2019.