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HSBC’s HK private banking business drives Q3 NNM flows, revenue growth

Key target markets for HSBC’s global private banking business – and especially Hong Kong – delivered a 7% YoY increase in revenues for the year’s third quarter and were largely responsible for a US$5.3 billion inflow of net new money, according to the bank’s latest earnings release. In total, HSBC’s global private banking arm took in US$437 million in revenues…

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