HSBC reveals more writedowns from its American sub-prime business.

November 11, 2007 at 1:09 am | Posted in economy, finance | Leave a comment
Tags: HSBC

Published: 11 November 2007

 

 

 

The embattled UK banking sector is likely to be dealt another blow this week when HSBC reveals more writedowns from its American sub-prime business.

Mark Durling, analyst at stockbroker Brewin Dolphin, said: “People shouldn’t get too spooked by the sub-prime numbers. Any increased provisions are likely to be offset by strong growth in other parts of the business, in particular, Latin America. We still think their growth targets are achievable.”