HSBC reported pre-tax profits of 7.3 billion US dollars (£5.5 billion) for the third quarter – a drop of 1.2 billion US dollars (£898 million) on the same period 12 months ago.
The announcement comes a day after the banking giant revealed it will set aside 1.1 billion US dollars (£826 million) following a court ruling related to a long-running lawsuit brought by investors who lost money in Bernard Madoff’s investment fraud.
