HSBC apologies for taxes evade scandal

CNC
Added On February 16, 2015

HSBC, Britain's biggest bank, has issued a formal apology after it was revealed its Swiss private banking subsidiary had assisted hundreds in avoiding taxes and concealing millions of dollars in assets. 
 
HSBC Holdings Plc's group chief executive Stuart Gulliver offered his "sincerest apologies" in an open letter on Sunday, following revelations its Swiss Private Bank's practice had helped clients evade taxes.
 
The letter covered an entire page in several British newspapers, including the Sunday Times and the Sunday Telegraph.
nearly 70 percent.