HSBC’s pre-tax profit increases 79% after pandemic damage recovers By Reuters

© Reuters. FILE PHOTO: An HSBC bank logo pictured in New York

LONDON (Reuters) – HSBC Holdings (NYSE 🙂 PLC on Tuesday reported a much better-than-expected 79% rise in first-quarter profits on Tuesday as the Asia-focused lender begins to recover from economic damage caused by the pandemic coronavirus.

Europe’s largest bank by assets on Tuesday reported pre-tax profit of $ 5.78 billion for the three months ended March 30, down from $ 3.21 billion a year ago and above ‘an average analyst forecast of $ 3.35 billion compiled by the bank.

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