HSBC's financial statements showed that the bank's quarterly profit fell 27% year-on-year.
Europe's largest bank, with a market value of $130 billion, recorded a pre-tax profit of $4.2 billion for the first quarter of this year, compared to $5.78 billion in the same period before general.
According to the bank's financial statements, today, Tuesday, the decline in profits came as the Asia-focused bank was affected by lower revenues and slowing growth in Hong Kong.
The results were better than the average estimate of $3.72 billion by 16 analysts compiled by HSBC.
