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HSBC NZ's annual profit takes big hit with a near $20m 4th quarter loss after large corporate loan impairment

HSBC NZ's annual profit takes big hit with a near $20m 4th quarter loss after large corporate loan impairment

By Gareth Vaughan

HSBC New Zealand's annual profit tumbled 38% with its bottom line savaged by a large provision on a corporate loan in the December quarter.

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