Banking group HSBC has seen its pre-tax profits slump by 51 percent for the first six months of 2009, tumbling to $5 billion compared to $10.2 billion for the same period a year ago. Meanwhile, total operating income for the half-year fell six percent to $40.2 billion, from $42.9 billion a year ago.
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HSBC set for shares issue as profits slide
HSBC on Monday announced a 62 percent slide in annual pre-tax profits to $9.3 billion, delivering a further blow for the beleaguered UK banking industry.