HSBC Pretax Profit Rises to $4.6B

HSBC faced significant financial challenges due to various charges, including a $380 million provision for a currency rigging settlement and $700 million for customer compensation. Despite these, HSBC's revenue increased, particularly in foreign exchange and equities trading. The banking industry, including JP Morgan, RBS, and Barclays, is dealing with probes and has set aside $2.4 billion for compliance. Rising regulatory costs have led HSBC to increase its compliance staff, planning to employ 7,000 by year-end.

What was the total amount HSBC set aside for currency rigging settlement and customer compensation?

• $2.4 billion

• $700 million

• $380 million

• $1.08 billion

Which division of HSBC's investment bank saw a 29% revenue increase?

• Equities trading

• Foreign exchange

• Customer compensation

• Compliance

Which other banks were mentioned as facing similar challenges to HSBC?

• Bank of America and Wells Fargo

• Citibank and Deutsche Bank

• Barclays and Standard Chartered

• JP Morgan and Royal Bank of Scotland

How much have banks collectively set aside to deal with allegations of traders sharing information?

• $1.5 billion

• $4.2 billion

• $2.4 billion

• $3.6 billion

How many compliance staff does HSBC plan to employ by the end of the year?

• 7,000

• 5,000

• 3,000

• 1,400