Thursday, December 2, 2021
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British multinational company

HSBC’s 2020 Annual Profit Falls 34%

Due to the covid-19 crisis, HSBC reported a 34% drop in profits last year, owing to which it has signalled an investment pivot in Asia.HSBC’s shift of focus towards Asia has not been a smooth-sailing, for instance, the big bank came under fire for an endorsement of a controversial national security law that China has imposed on Hong Kong.

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