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HSBC WPB enjoys decent 3Q2022 despite tough times for wealth business

Source: HSBC

HSBC reported good momentum in its Wealth and Personal Banking (WPB) business in 3Q2022, with revenue rising 25% YoY to US$6.3 billion, marking a turnaround from a challenging 1H2022 for the UK-based lender. That jump was propelled primarily by the impact of a higher interest rate environment and balance sheet growth on the group’s personal banking business, HSBC said in…

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