London, Feb 21 (IANS) HSBC announced on Tuesday a fall of 89.67 per cent in net profit for 2016, amounting to $1.3 billion, a statement said.
Its pre-tax profit was down by 62.3 per cent to $7,122 million, the company added in the statement, Efe news reported.
The bank's revenues during the 2016 financial year were $47.966 billion, 19.79 per cent less than 2015.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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