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HSBC Global Private Banking profit plunges by 51%

HSBC’s global private banking arm saw a steep profit fall for the first half of the year, amid ongoing investigations into the bank’s tax-related activities. HSBC Global Private Banking’s (HSBC GPB) profit dropped to US$180 million in the first half of 2015, down from US$364 million a year ago. Income fell to US$208 million from US$271 million. This came even…

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