HSBC Middle East, the Arab bank, announced a decline in profits due to tax payments for the first nine months of 2024. Last year was successful for the bank, however, the data for the current financial period indicates a decrease in profits.
The organization reported that profits for tax payments amounted to $2.58 billion for the specified period. This is a decrease of 9.3% compared to the previous year. The bank also reported a 7.8% increase in assets for the same period.
The President of HSBC Middle East expressed confidence in the bank's ability to adapt to current challenges and continue the implementation of its strategic plan. At the same time, he expressed gratitude to the bank's clients and partners for their trust and support during this difficult time.
