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HSBC warns it could take years to settle Madoff case as bank takes $1.1bn hit

By The Guardian   |   1 month ago
HSBC warns it could take years to settle Madoff case as bank takes $1.1bn hit

HSBC's profits drop by 14% due to ongoing lawsuit over the Bernard Madoff Ponzi scheme, with a $1.1bn provision made. The case could take years to settle, impacting the bank's financial performance. CEO emphasizes focus on customer needs amid legal challenges.

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