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HSBC PB reports ‘record’ revenue, NNM growth as cross-referral business increases

HSBC’s global private banking business delivered its strongest quarter since 2015 in terms of revenue and its strongest net new money intake since 2008, the major said on Monday. The private bank’s top line for the first half increased 2% YoY on an adjusted basis to US$924 million, with Asia serving as a core driver. Of that, lending revenue rose…

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