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HSBC

The Hongkong and Shanghai Banking Corporation is one of Hong Kong's biggest banks. It was founded in Hong Kong on March 3, 1865, and in Shanghai one month later. Its headquarters are located in London, England.

HSBC has unveiled first-half pre-tax profit of US$14.1 billion that misses the market consensus forecast of US$14.6 billion. Photo: Nora Tam

Massive revamp may squeeze HSBC returns

"The market's expectation on HSBC is too high," Ian Gordon, an analyst at Investec in London, told the South China Morning Post after the bank unveiled first-half pre-tax profit of US$14.1 billion yesterday that missed the market consensus forecast of US$14.6 billion.

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