Reuters
Between July and September, HSBC's pre-tax profits reached $8.5 billion
HSBC saw its quarterly profits jump 10% as the British banking giant embarks on one of the biggest shakeups in its 159-year history.
The company 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 company will be divided geographically between Eastern and Western markets amid growing geopolitical tensions and the need to cut costs.
“We will immediately begin implementing these plans and share more details as part of a business update alongside our annual results in February,” Georges Elhedery, HSBC's new chief executive, said in a statement. press release.
The bank also announced it would buy back an additional $3 billion of its own shares, on top of a $6 billion buyback plan unveiled earlier this year.
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