The UK’s largest bank, HSBC, has seen the crunch take its toll on their profits seeing them slide by 28%.

Group Chairman, Stephen Green, 'HSBC was not immune from the turmoil. In the prevailing market conditions this is a resilient performance which enables us to maintain our capital strength, continue with our dividend policy and balance the need to conserve capital with our commitment to make it available for investment in our fast-growing business.'

Whilst all major lenders have seen some consequences of the crunch coming their way, HSBC are the largest UK bank and the fact that they have seen such troubled times is an indicator of the wide wake the crisis has had.

Lucy Trueick