HSBC Profit Rises 30% on Cost Cuts as Forex Trades Probed
This article is for subscribers only.
HSBC Holdings Plc, Europe’s largest bank by value, said third-quarter pretax profit rose 30 percent as the lender cut costs and focused on its most lucrative markets.
Pretax profit climbed to $4.53 billion from $3.48 billion in the year-earlier period, the London-based lender said in a statement today. That missed the $5.54 billion median estimate of 10 analysts surveyed by Bloomberg.