HSBC... BAD FACT

The economic reports that HSBC bank Great largest banks announced bad debts estimated at 16 billion dollars, due to a mortgage real estate market in the USA.

The reports cited by the British news agency Saudi Arabia "WAS" The crisis of American real estate market led to a significant decline in the payment of mortgage loans and the decline in real estate prices in general.

The bank had put the amount of allocations ten billion dollars to deal with any potential losses in the real estate market .. However, the size of the loss has exceeded this amount allocated six billion dollars, but that the bank was able to achieve significant gains from the business in Asia amounted to about 64% of pre-tax, which increased its profits with a total $ 25 billion in 2007 compared with 22 billion dollars in 2006.

On a related explained newspaper "The Observer" that the British four senior British banks, including "Barclays" and "Lloyds" and other small enterprises suffered losses amounting to about ten billion dollars as a result of the crisis in the American real estate market.

It should be noted that the bank had decided last week the sale of its branch in France, $ 3.2 billion to focus on Asian markets

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