HSBC boosts bad loan provisions, sees second-quarter profit plunge as coronavirus crushes global business activity

• HSBC warned it could take provisions of up to US$13 billion for expected credit losses this year as coronavirus pandemic weighed on economic activity
• Pre-tax profit was US$1.09 billion, well below a consensus estimate of US$2.46 billion and about a sixth of the US$6.19 billion it reported a year ago