HSBC’s $3bn expected credit loss ‘not kitchen-sinking’

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HSBC’s $3bn expected credit loss ‘not kitchen-sinking’

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British multinational banking and financial services holding company HSBC logo is seen in Hong Kong (Photo by Budrul Chukrut / SOPA Images/Sipa USA) | SOPA Images/SIPA USA/PA Images

Currency markets helped revenues in HSBC’s global banking and markets division in the first quarter. But along with the rest of the group, it had to take big losses for credit exposures thanks to the coronavirus pandemic.

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