Mortgage News
HSBC suffers ballooning bad debt charges, mortgage book shrinks
Tuesday 3rd of April 2012
HSBC's latest disclosure statement showed charges for bad loans jumped by $23.3 million in the quarter from just $1.2 million at September 30 and compared with the $4.6 million charge in the December quarter of 2010. In the September quarter, HSBC had written back $0.2 million of previous charges against profit for bad loans.
The latest quarter's loss compares with the $17.2 million net...
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