HSBC CEO Indicates End of Bank Overhaul Despite Drop in Profits

HSBC, under the leadership of CEO Georges Elhedery, is nearing the completion of its restructuring plan for the renowned British bank.

Although facing a 7% decline in pre-tax profit to $29.9bn in the past year – largely due to significant one-off costs totaling $4.9bn – Elhedery expressed optimism, emphasizing HSBC’s transformation into a simpler, more agile institution suited for the rapidly evolving global landscape.…

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