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When NOEL QUINN took over as interim chief executive of HSBC from John Flint,
奎恩接替約翰·范寧（8月他被董事會罷免）出任匯豐銀行臨時首席執行官時，
ousted by the board in August, analysts expected a change in style.
分析師們認公司風格將發生改變。
Whereas Mr Flint was seen as a cerebral introvert, Mr Quinn is forthcoming, verging on blunt.
范寧被認為是一個理性內向的人，而奎恩則很直率，近乎直言不諱。
On that front, at least, HSBC's first quarterly-results announcement on his watch did not disappoint.
至少在這個方面，匯豐銀行在他任期內發布的首份季度業績報告沒有讓人失望。
Although its Asian business "held up well in a challenging environment",
奎因10月28日表示，盡管其亞洲業務“在充滿挑戰的環境中表現良好”，
performance in other areas was “not acceptable”, Mr Quinn said on October 28th.
但在其它領域的表現“令人無法接受”。
Third-quarter net profits, down by 24% on the same period last year, to $3bn, undershot pundits' forecasts by 14%.
第三季度凈利潤為30億美元，比去年同期下降24%，比專家預測的低14%。
Revenues fell by 3.2%, to $13.4bn, missing expectations by 3%.
營業收入下降3.2%，至134億美元，低于預期3%。
Return on tangible equity (ROTE), its chief measure of profitability, reached 6.4%, compared with analysts' forecast of 9.5%.
其主要衡量盈利能力的指標——有形資產收益率（ROTE）達到6.4%，而分析師的預測為9.5%。
Investors agreed with Mr Quinn: the bank's shares dropped by 4.3% on the news in London.
投資者同意奎因的觀點： 倫敦消息傳出后，該銀行股價下跌了4.3%。
They have fallen by about 11% in the past six months.
在過去六個月內，股價下跌了約11%。
HSBC's woes can be blamed in part on broader conditions: low interest rates, a slowing global economy,
匯豐銀行的困境可部分歸咎于更廣泛的情況：低利率、全球經濟放緩、
business uncertainty in Brexit-hit Britain and trade tensions (HSBC is the world's largest provider of trade finance).
英國脫歐帶來的商業不確定性以及貿易緊張（匯豐銀行是全球最大的貿易融資提供商）。
Yet that is hardly likely to reassure investors.
然而，這很難讓投資者安心。
Tom Rayner of Numis Securities, a broker, points out that although some of these trends may be reversed,
努米斯證券公司的湯姆·雷納指出，盡管其中一些趨勢可能會逆轉，
others, such as Brexit and the trade wars, may linger. Interest rates may well fall further.
但其他情況，如脫歐和貿易戰爭可能會持續。利率很可能進一步下降。
Investors are not yet pricing in any impact from protests in Hong Kong, where HSBC is the largest lender.
投資者尚未消化香港抗議活動的影響，匯豐是香港最大的銀行。
That is too optimistic, says Fahed Kunwar, at Redburn, another broker.
另一家證券公司Redburn的Fahed Kunwar說，這太樂觀了。
Mr Quinn does not deny the scale of the challenge.
奎因并不否認挑戰的規模。
HSBC is ditching its rote target of 11% for 2020, and there are hints of a radical overhaul.
匯豐銀行正在放棄其到2020年達到11%的既定目標，并且有跡象表明將進行徹底的改革。
Mr Quinn spoke of accelerating plans to "remodel" poorly performing businesses.
奎因談到了加速“重塑”經營不善業務的計劃。
In August the bank announced a plan to complete 4,700 redundancies by the end of this year.
今年8月，該銀行宣布了一項計劃，計劃在今年年底前完成4700項裁員。
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