Bank profits up - time to start lending again, warns chancellor
Posted by PM | on Mon, 02/08/2010 - 16:24 916
HSBC reported pre-tax profits of £7bn for Q1 this year (more than double last year’s figure), while chancellor George Osborne renewed calls for banks to lend more to businesses.
Profits are up across HSBC's global branches, except in North America, which saw losses of $80m. UK profits increased by 26%, reaching $2.1bn.
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