Europe's biggest bank, HSBC, has said it could start charging for "basic banking services" in some countries after it reported a 35% fall in quarterly profits.

It said it was considering charging for products such as current accounts, which are free to UK customers. The bank said it was losing money on a "large number" of such accounts. A spokesman later told the BBC it was committed to continuing to provide free "basic bank accounts" in the UK . But they added: "We always keep under review the pricing for our standard current accounts and associated services." Very few banks charge for standard bank accounts, but experts say this could change if the UK falls into negative interest rates due to the pandemic.

Source: BBC Business