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HSBC sees profits double to $11bn

The UK's biggest bank HSBC has reported pre-tax profits of $11.1bn (£7bn) for the first six months of 2010 - more than double its profits for the same time last year.

The bank said it was profitable in every region, except for North America where it saw losses of $80m. In the UK, profits totalled $2.1bn - a rise of 26%.

Unlike Lloyds and RBS, HSBC survived the financial crisis without receiving direct government support.

Nigel Cassidy reports.