HSBC profits plummet 28%

The bank made a pre-tax profit of $10.2bn across its worldwide operations, down $3.9bn from the same period last year. The bank will pay shareholders an interim dividend of $0.18 per share with a scrip alternative also offered. The bank was able to stay profitable in all regions of the world apart from North America, where a $2.8bn loss was made, compared with a $2.4bn profit a year ago. European markets accounted for just over 50% of the group's profits, up from 28% lasy year. The group made an overall profit of $5.17bn in Europe, up from $4bn in the first half of 2007. Difficult ...