HSBC has announced that profits have slumped by 82% after a year of "unexpected economic and political events". He said: "2016 will be long remembered for its significant and largely unexpected economic and political events. Europe's largest bank said that net profit for 2016 slipped to £2 billion from £10.8 billion the year before. The group chairman, Douglas Flint said political events such as Brexit and Donald Trump's US presidency was threatening the growth of the company. "The uncertainties created by such changes temporarily influenced investment activity and contributed to volatile financial market conditions.
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