Asia-focused giant has been on a recovery drive
HSBC said Monday that profits were up more than five
Hong Kong - AFP
HSBC said Monday that profits were up more than five-fold in the third quarter as its Asia business drives higher returns.
Reported pre-tax profit jumped to $4.6 billion in the three months to the end of September, compared with $843 million in the same period in 2016.
The Asia-focused giant has been on a recovery drive over the past two years to streamline the business and slash costs, and has laid off tens of thousands of staff
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