Transaction banking gives HSBC a lift

摘要

HSBC's pledge to rein in costs while growing revenues is showing signs of bearing fruit after a 28% jump in profit last quarter as buoyant transaction banking products gave its investment bank a lift. Profits in HSBC's global banking and markets division in the July-September quarter rose 21% from a year ago to US$1.81bn. All its transaction banking products played a part: revenues from liquidity and cash management were up 23%, there was a 14% rise in securities services, and a 12% increase in trade and receivables finance.