HONG KONG, Oct. 30 (Xinhua) -- HSBC on Monday reported a major rebound in its pre-tax profit for 4.6 billion U.S. dollars in the third quarter of 2017, up from 843 million U.S. dollars a year ago.
The Asia-focused banking giant has been on a recovery drive over the past two years to streamline the business and slash costs after laying off tens of thousands of staff, market analysts said.
Chief executive of HSBC Stuart Gulliver said the bank had "maintained good momentum in the third quarter," with higher revenue across its main global businesses.
"Our pivot to Asia is driving higher returns and lending growth, particularly in Hong Kong," he said.
Shares of HSBC were down 0.3 percent to close at 76.85 HK dollars on Monday.
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