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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

RARE PHOTOS: Hsbc profits fall amid 400m fraud related charge and iran war - The Real Truth

HSBC Iran Pam Kaur London
A person passes an HSBC branch in London
HSBC said profits fell by 4% in the first three months of the year. Photograph: Tolga Akmen/EPA

HSBC has taken a $1.3bn (£961m) hit to profits, amid the fallout from the US-Israel war on Iran and fraud in the troubled private credit sector.

The London-headquartered bank said profits fell 4% in the first three months of the year, dropping $100m to $9.4bn, compared with the same period in 2025. Revenue increased 6% to $18.6bn.

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