HSBC profits rise as costs cut and lucrative market push pays off

HSBC Holdings Plc, Europe’s largest bank by value, said third-quarter pretax profit rose 30% as the lender cut costs and focused on its most lucrative markets.

Pretax profit climbed to $4.53 billion (€3.35bn) from $3.48bn in the year-earlier period, the London-based lender said in a statement.

HSBC also said it’s being investigated by regulators, along with other firms, with regard to trading in the foreign-exchange market.