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HSBC Sees Profits Rise As It Benefits From Cuts

HSBC, Europe's biggest bank by market value, saw profits rise for the year as it took advantage of rigorous cutting, but analysts were disappointed because they were hoping for... More HSBC, Europe's biggest bank by market value, saw profits rise for the year as it took advantage of rigorous cutting, but analysts were disappointed because they were hoping for more. Net profit rose 15% to $16.2 billion from $14.03 billion. The bank has cut some 41,000 jobs out of a workforce of 295,000 in the last three years and has dumped 63 non-strategic businesses. Less

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