HSBC has suffered an absolutely torrid few months. As it gears up to announce what are likely to be a rocky set of interim results at 5am London time (12 noon Hong Kong) on Monday August 3, it’s worth pausing to sum up the level of the trouble it’s in – and why its future is not all bleak.
HSBC’s problems come in three forms: financial, structural and reputational.
Let’s start with the first of them. Covid will hit and hurt all banks, be it now or later.
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