HSBC profits slide

LONDON, Apr 26 (AFP): HSBC profits slid in the first quarter, the Asia-focused bank announced Tuesday after it was hit by bad debts as Russia's invasion of Ukraine sent inflation rocketing further.
Net profit dropped more than a quarter to US$2.8 billion from the first three months of 2021, London-headquartered HSBC said in an earnings statement.
Pre-tax profit fell by a similar proportion to $4.2 billion.
HSBC said "the Russia-Ukraine war has exacerbated inflationary pressures, and increased uncertainty on the forward economic outlook.