HSBC warns it could take years to settle Madoff case as bank takes $1.1bn hit

The Guardian•Tuesday, October 28, 2025 at 8:47:58 AM

HSBC has announced that it may take years to resolve a lawsuit related to the Bernard Madoff Ponzi scheme, resulting in a significant $1.1 billion financial hit for the bank. This situation is concerning as it has led to a 14% drop in profits, highlighting the ongoing impact of the scandal on the bank's financial health. The prolonged legal battle not only affects HSBC's bottom line but also raises questions about the broader implications for the banking industry and investor confidence.

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