HSBC reports a 17% drop in profit to $18.7bn (£12.2bn)

Profits at the banking giant HSBC are down 17% - hit by the costs of fines, settlements and compensation claims.

The results also coincide with new claims about the pay arrangements and tax affairs of the bank's chief executive Stuart Gulliver.

He is being accused of keeping millions of dollars in a Swiss bank account.

Kamal Ahmed reports.

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