HSBC reported weaker than expected profits. It is mainly due to an unexpected UK fraud-related charge and higher credit provisions linked to rising economic risks from the Middle East conflict, the Iran war.

As for Singapore banks like UOB and OCBC, I do not currently see any significant direct risk, given their relatively limited exposure to the UK private credit market and the Middle East compared to HSBC.😁

LongPort - Captain's Watch
Captain's Watch

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