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More than 80% of HSBC Private Bank profits from Asia

HSBC’s global private banking business posted US$261 million in profits before tax nine months into 2015, with 80% of it derived from Asia, proof again that the region is the dominant growth engine for wealth managers. The Asia unit turned in pretax profits of US$209 million, a 175% year-on-year surge. The European arm posted a US$14 million loss while the remaining regions…

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