HSBC's $3 bln China write down mars record annual profit

HSBC Holdings (HSBA.L), opens new tab reported a record annual profit, that nonetheless came in below analysts' forecasts as the income boost from higher interest rates was offset by a hefty $3 billion charge from its stake in a Chinese bank.
HSBC, which has a market value of $160 billion, reported on Wednesday a pretax profit of $30.3 billion for 2023, up 78% from a year earlier but worse than a $34.1 billion broker estimate.

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