HSBC Q3 profit up, U.S. bad debt charge jumps
LONDON, Nov 14 (Reuters) HSBC Holdings Plc, Europe's biggest bank, said its third-quarter profits were ahead of last year's and revenue growth across the group offset a jump in its charge for bad debts in the United States.
The trading update on Wednesday reassured investors that HSBC was not further exposed to big debts in mortgage-related financial products and was benefiting from its broad spread, and its shares jumped over 4 percent.
The bank does not report quarterly results and is not due to announce annual results until March 3, 2008.
HSBC increased its bad debt charge related to its U.S.
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Story first published: Wednesday, November 14, 2007, 20:38 [IST]