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HSBC says Swiss scandal shamed the bank

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London - HSBC reported a deeper-than-expected 17% slide in annual pretax profit and cut its earnings target, saying allegations its Swiss business had helped customers to dodge taxes had brought shame on the bank.

Earnings from Europe's biggest lender on Monday reflected the cost of past misconduct and protecting itself against the impact of further scandals. HSBC said allegations about its Swiss operations had badly damaged its image.

READ: Bank tries to stop naming of SA rich in scandal

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