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Quarterly profit at Europe's largest lender reached $10.1 billion, HSBC said, with wealth management and insurance operations in Hong Kong cited as the primary drivers of the result.
Hong Kong operations carry the quarter The bank attributed the gain to its wealth management and insurance segments in Hong Kong.
Both businesses generate income primarily from fees and premiums, giving them different economics than traditional lending. HSBC did not break out separate figures for each unit in the release summary.
The commercial weight of two segments A quarterly result of $10.1 billion is large in absolute terms, and the bank pointed to two specific segments rather than its broader loan book as the explanation.
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