HSBC Takes A $3.4 Billion Charge

HSBC Takes A $3.4 Billion Charge

HSBC Holdings Plc (HSBA.L), 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.

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