Gulliver 'sorry' for HSBC mistakes

AOL Money Staff
HSBC boss Stuart Gulliver
HSBC boss Stuart Gulliver

HSBC boss Stuart Gulliver has apologised for "the mistakes of the past" as the banking giant set aside a further 1.5 billion US dollars (£950 million) to cover the cost of mis-selling claims and a money-laundering scandal in the United States.

The bank said it increased its provision to cover mis-sold payment protection insurance (PPI) by 537 million US dollars (£341.6 million) in the three months to June, bringing the total charge to date to 1.7 billion US dollars (£1.1 billion).