HSBC, one of the world's largest banks, suffered a hit to its share price on Monday morning after posting disappointing results.
Larger than anticipated impairments and a lower capital 1 tier ratio than hoped helped send the share price tumbling, according to analysts. Shares closed down by over 4 percent.
HSBC delivered slightly worse than forecast profits of $14.1 billion for the first half of 2013 as chief executive Stuart Gulliver's cost-cutting campaign continued.
Gulliver said in a statement: "These results demonstrate that we have continued to make progress on delivering our strategy."
(Read more: HSBC Could Cut 14,000 More Jobs In War on Costs)
The bank was expected to report pre-tax profit of $14.6 billion for the half-year, according to a Reuters poll. Profit was up 10 percent from the same period in 2012.
"Quality looks very poor in the results," Ed Salvesen, equity analyst at Brewin Dolphin, told CNBC.com. "Overall I think there will be some downgrades following this."
He highlighted larger-than-anticipated impairments - particularly in Latin America, where charges reached $1.4 billion - as one of the factors causing concern in the market.