HSBC cashes in on Apac activity, increases US sales

HSBC posted a profit before tax of US$5.4 for the third quarter of 2021, an increase of US$2.3 billion year-on-year. All regions where profitable in Q3 2021, with Asia contributing US$3.3 billion to the reported profit before tax, while HSBC UK reported its profit before tax increased by US$1 billion to US$1.5 billion. Adjusted revenue was down one percent to US$12.2 billion, primarily reflecting unfavourable market impacts in life insurance manufacturing in wealth and personal banking (WPB) a