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HSBC profit leaps as drop in fines counters Asia slowdown| Reuters

Nov 03, 2015    

HONG KONG/LONDON HSBC profit jumped by a third in the latest quarter as a drop in fines for past misconduct more than offset the impact of a slowdown in Asia and increased spending on regulatory compliance.Europe's biggest bank also said on Monday that it will step up its push into investment banking activity on the Chinese mainland by establishing a majority-owned securities venture in the country.Costs related to fines and compensation for customers fell by $1.4 billion in the three months to Sept. 30 from a year ago, marking the bank's progress on conduct issues that have marred recent quar...

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