HBSC beats expectations with a little help

Global banking colossus HSBC saw strong profits growth in 2011 despite its investment banking arm's profits taking a dive.

Global banking colossus HSBC saw strong profits growth in 2011 despite its investment banking arm's profits taking a dive.

Reported profit before tax at $21,872m was ahead of expectations and up from $19,037m the year before. It was, however, boosted by favourable fair value movements of HSBC's own debt to the tune of $3.9bn.

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