HSBC reported a 32% increase in third-quarter pretax profit as higher interest rates supported lending income and wealth management drew new clients.
Pretax profit reached $9.6 billion for July through September, up from $7.3 billion a year earlier and close to the $9.7 billion average estimate in an HSBC-compiled poll.
The bank attributed the improvement to stronger net interest income after rate increases and to wealth-management inflows during unsettled markets.
This is an original summary, not a republication of the full report.
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