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HSBC Cuts References to Ukraine ‘War’ From Reports, FT Says

  • Bank has staff in Russia, where war terminology is banned
  • HSBC is reducing its presence in country but not withdrawing
Updated on

HSBC Holdings Plc has edited research reports from its analysts to remove any references to a “war” in Ukraine as the lender resists pressure to follow peers in closing its business in Russia, the Financial Times reported, citing two unidentified people.

Committees at the bank that review externally published research and client communications have amended multiple reports to soften the language, including changing the word “war” to “conflict,” the newspaper reported.