HSBC shares rise as pre-tax profits surge 30% in Q3

HSBC shares are leading the FTSE 100 today, after the bank reported pre-tax profits grew by almost a third in Q3.

The UK's largest bank reported pre-tax profits of $4.5bn (£2.8bn) in the third quarter, compared to $3.5bn in the same period in 2012, a 30% increase.  Pre-tax profits for the nine months to the end of September came in at $18.6bn, up 15% on the previous year. HSBC said the strong figures were driven by the performance of its home markets of the UK and Hong Kong, which contributed more than half of the underlying pre-tax profits over the quarter and year-to-date. The group said it continues to remodel its business in the US to support growth and improve profitability, and hopes to ...