Welcome to countdown. I am anna edwards. Manus i am manus cranny. It is a big day for the bank. Hsbc profit falls 545 . We have seen the stock open portrayed in hong kong. They are planning a 2. 5 billion buyback. The removed the timetable. The headline, pretax trough it 3. 61 billion. Last year it was 6. 6 billion and the estimates were for 3. 9 billion. A recession potentially in the u. K. Impacting hsbc. If you want to think about it on this scale, since 2011 they slashed 87,000 jobs. That is a bank in restructuring. Downng in hong kong, 0. 75 . Anna this is from the thirdlargest bank. Net profit for the Second Quarter is 1. 1 6 billion euros. That is above the estimate of 994 million euros. The bank also telling us the gain they have made on the sale of euro state. That bank went deal went through. Many banks booked a gain on that. They are all but facing headwinds from the low Interest Rate environment. What will be key as we go through these numbers is the bread and butter of ban