HONG KONG: Banking giant HSBC said on Friday that pre-tax profit jumped 30.7 per cent to US$6.2 billion in the first three months of the year, describing the results as"encouraging" despite an uncertain global outlook.
"We have made a good start to 2019," Flint, who took the helm in February last year, said in a filing with Hong Kong's stock exchange announcing the results. Shares in the bank were down 0.07 per cent at HK$68.2 when Hong Kong markets opened for afternoon trading, paring sharper losses seen before the break.Flint's progress in bringing costs more under control will be welcomed by investors especially given revenue gains outpaced cost increases in the first three months of the year.
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