HSBC reports £13.8bn profits

Independent – Rapid growth in Asia and a resilient performance in the UK helped drive profits of £13.8 billion at HSBC today. Profits rose 15% to 21.9 billion US dollars, which is among the biggest ever reported by a British company and close to its record of 24 billion US dollars 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. Read Article