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HSBC's Q3 profit fell 14% to $7.3 billion due to a $1.1 billion Madoff-related legal charge

HSBC reported a 14% drop in third-quarter profit, landing at $7.3 billion before tax for the three months ending September. The hit came largely from a $1.1 billion legal provision linked to the Bernard Madoff fraud case, dragging down what was otherwise a solid quarter in terms of interest and wealth income. Despite the profit [...]

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