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JPMorgan says HSBC's profit may fall.

Global Banking News-28 July 2008-JPMorgan says HSBC's profit may fall(C)2008 ENPublishing -

Global Banking News - 28 July 2008(c)2005 - Electronic News Publishing -

US-based investment bank JPMorgan Chase (NYSE: JPM) has announced that first half profits at HSBC Holdings (LSE: HSBA) may fall.

According to JPMorgan Chase, HSBC Holdings could report a 28 percent decline in pretax profit in the first half of the year due to slowing revenue growth. The London-based bank may report a decrease in pretax income to USD10.3bn from USD14.2bn reported last year, according to analysts at JPMorgan Chase.

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Publication:Global Banking News (GBN)
Date:Jul 28, 2008
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