HSBC's third-quarter profit jumps 32 percent, in line with estimates

HSBC (0005) reported a 32 percent surge in third-quarter profit on Tuesday, as rate hikes helped boost net interest income, while its wealth management division benefited from turbulent market conditions that prompted an influx of new clients. 

Pretax profit for Europe's largest bank came in at US$9.6 billion for the July-September quarter.

That compares with US$7.3 billion for the same period a year earlier and an average estimate of US$9.7 billion in a poll compiled by HSBC.

Reuters

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