VOICED : HSBC cede su filial brasilena a Bradesco

VOICED : HSBC cede su filial brasilena a Bradesco

Assessment

Interactive Video

Business

10th - 12th Grade

Hard

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HSBC announced the sale of its Brazilian unit to Bradesco for $5.2 billion as part of a global restructuring plan, which includes cutting 50,000 jobs and selling operations in Brazil and Turkey. Despite this, HSBC will maintain a presence in Brazil for large enterprises. The bank aims to reduce expenses by $5 billion by 2017. In the first half of the year, HSBC's net profit was $9.618 billion, a 1.31% decrease from the previous year, with a 3.8% drop in the second quarter. The decline is attributed to increased operational costs, legal expenses, and regulatory disputes. Additionally, HSBC's tax payments in the UK rose by 44% to $2.9 billion.

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OPEN ENDED QUESTION

3 mins • 1 pt

What new insight or understanding did you gain from this video?

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