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.