HSBC released its interim management statement last Friday but followed the Lloyds model of being light on real figures. The only numbers published were those the bank was obliged to publish: for its US operations. The management statement says that HSBC saw the market as being as subdued: “Global Banking and Markets’ performance in the quarter was robust, although trading activity was lower, reflecting seasonal factors and more subdued market sentiment and conditions.”
However, profitability is looking promising – although we’ll have to wait till next February for the numbers: “Global banking and markets pre-tax profits for Q3 2010 and the year to date remained strong by historical standards and were second only to last year’s exceptional performance.
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