HSBC Bank logo is seen in this illustration taken March 12, 2023. REUTERS
HONG KONG/LONDON, May 5 (Reuters) – HSBC Holdings reported a flat first-quarter profit on Tuesday, as rising provisions due to higher credit charge from UK corporate banking business and rising provisions for conflict in the Middle East.
Europe’s largest bank posted pretax profit of $9.4 billion for January-March, versus $9.5 billion a year earlier.
That compared with the $9.59 billion average of broker estimates compiled by HSBC.
Reporting by Selena Li in Hong Kong and Lawrence White in London; Editing by Christopher Cushing
