HSBC profits jump as banking giant set for major shakeup

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HSBC profits jump as banking giant set for major shakeup

HSBC has seen its quarterly profits jump by 10% as the ***-based banking giant embarks on one of the biggest shakeups in its 159-year history.

The firm said its pre-tax profits rose to $8.5bn (£6.6bn) in the three months to the end of September, beating analysts’ expectations.

It comes just days after HSBC’s new boss announced a major overhaul of the company.

The firm will be split geographically into eastern and western markets amid increasing geopolitical tensions and a need to cut costs.

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