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HSBC to set aside US$1.1 billion for potential payouts in Madoff fraud lawsuits

✍️ Enoch Yiu 📅 October 27, 2025 12:07 PM 🕐 Scraped: October 28, 2025

Summary: Facing uncertainty over eventual cost of lawsuits related to the Ponzi scheme, bank announces provision in its third-quarter earnings.

HSBC Holdings will book a US$1.1 billion provision in its third-quarter earnings as it faces uncertainty over payouts in lawsuits related to the Bernard Madoff fraud case, according to a stock exchange filing on Monday morning.

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📝 Article Information

Author

Enoch Yiu

Original Publisher

🌍 South China Morning Post

CENTER Bias (0.0)

Published Date

October 27, 2025 at 12:07 PM

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