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A man walks past a logo of HSBC at its headquarters in Kuala Lumpur, Malaysia August 6, 2019. Picture taken August 6, 2019. REUTERS/Lim Huey Teng/File Photo Acquire Licensing Rights
HONG KONG/LONDON Oct 30 (Reuters) – HSBC Holdings (HSBA.L) reported a 240% increase in third-quarter pre-tax profit on Monday as higher interest rates boosted profitability, although it missed market estimates.
Europe’s largest bank with a market value of $118.6 billion posted a pre-tax profit of $7.7 billion for the July to September quarter, versus $3.2 billion a year earlier, trailing the $8.1 billion mean average estimate of brokers compiled by HSBC.
Reporting by Selena Li in Hong Kong and Lawrence White in London; Editing by Jamie Freed
Our Standards: The Thomson Reuters Trust Principles.
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