HSBC reports leap in profits

Rapid growth in Asia and a resilient performance in the UK helped drive profits of £13.8bn at HSBC today.

Rapid growth in Asia and a resilient performance in the UK helped drive profits of £13.8bn at HSBC today.

Profits rose 15% to US$21.9bn, which is among the biggest ever reported by a British company and close to its record of US$24bn set in 2007.

The banking giant, which makes an estimated 90% of its money outside Britain and has benefited from its exposure to emerging markets in Asia, said UK pre-tax profits rose 17.2% to £1.5 billion.

 

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