HSBC swung to a third-quarter loss, weighed by the impact from the sale of its Brazilian business and an unfavourable foreign-exchange environment.

On November 7, the UK banking giant said it swung to a third-quarter loss of $204 million from a year-earlier profit of $5.23 billion, due in part to a S$1.74 billion loss from the disposal of its operations in Brazil. HSBC completed the sale of its Brazil business to Banco Bradesco in July.