HSBC Holdings (HSBA.L) is expected to report a 10 percent rise in quarterly profit on Monday as Europe's biggest bank benefits from cost cuts and the absence of a big provision to cover a fine last year. The rise is unlikely to put to rest concerns about HSBC's growth prospects as tougher regulations squeeze profits, investment banking income drops and the threat remains of further litigation over the bank's past conduct. HSBC is expected to report a pretax profit of $5.5 billion for the three months to the end of September, according to the average of 13 analysts polled by the bank. Operating costs are forecast to fall $1.5 billion from a year ago to $8.8 billion, as Chief Executive Stuart Gulliver's plan to streamline HSBC and improve profitability pays off.
via Business News - Yahoo Finance http://finance.yahoo.com/news/hsbc-profits-seen-10-percent-001041151.html
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