HSBC is to pay more than US$550 million for bad practices in its mortgage-backed securities business before the financial crisis. Photo: AFP HSBC is to pay more than US$550 million for bad practices in its mortgage-backed securities business before the financial crisis. Photo: AFP
HSBC is to pay more than US$550 million for bad practices in its mortgage-backed securities business before the financial crisis. Photo: AFP
HSBC

Long, hard road ahead for HSBC and StanChart

After poor first-half results and hefty US fines, crises in Africa and the Middle East dampen prospects for the two banking giants

Topic |   HSBC
HSBC is to pay more than US$550 million for bad practices in its mortgage-backed securities business before the financial crisis. Photo: AFP HSBC is to pay more than US$550 million for bad practices in its mortgage-backed securities business before the financial crisis. Photo: AFP
HSBC is to pay more than US$550 million for bad practices in its mortgage-backed securities business before the financial crisis. Photo: AFP
READ FULL ARTICLE