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HSBC profits double on the back of economic recovery and release of credit losses

HSBC profits double on the back of economic recovery and release of credit losses

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HSBC PLC (LSE:HSBA) said profits more than doubled in 2021, driven by a release of credit losses and supported by a recovery in the global economy.  The bank said it would hit its target of 10% return on equity in 2023, a year earlier than anticipated, if central bank interest rates rise in line with market expectations.

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