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HSBC profits more than double to $17.2bn

Simon Atkinson

Asia Business Reporter

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More signs that HSBC 's recovery drive is working, with news that it made a pre-tax profit of $17.2bn (£12.3bn) in 2017.

That's a 141% jump on the $7.1bn profit of the previous year.

But before we get too carried away, bear in mind 2016 was a particularly tough year, with some hefty one-off costs, meaning the comparison is a tad flattering.

While HSBC is listed on the London Stock Exchange and remains a staple of the UK High Street, drilling into the figures shows just how much this is now a bank driven by Asia.

The lion's share of those pre-tax profits ($15.3bn of them) came from the region, while Europe clocked up a $1.9bn loss.