Global bank HSBC said today that all of its customer groups delivered a higher pretax profit in the third quarter than a year ago but said trading revenues were set to be lower in the fourth quarter.
London-based HSBC, the world's third-largest bank by market value, said it had seen continued progress in the third quarter and expected a continuation of that broad trend in the current quarter, but said trading revenues were expected to be lower in the last three months of the year.
It said cost performance in the third quarter was satisfactory and productivity improved as net operating income before provisions outpaced underlying cost growth.
