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HSBC plans to raise GBP 12.5 bn through a rights issue

08 Apr 09 04:08 PM
Money Control
fjrigjwwe9r1News:Details
There are some more worrying news from the global banking space??this time from HSBC. The bank plans to raise about GBP 12.5 billion in new capital through a rights issue. This announcement came after it reported a 70% drop in net profit in 2008. It also said it was looking at pulling out of its US consumer finance business.