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HSBC says its revenue jumped more than 100% in the first quarter

HSBC says its revenue jumped more than 100% in the first quarter

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HSBC Holdings plc (LON: HSBA) said on Tuesday that its net profit in the first quarter posted an over 100% growth on a year over year basis. The company attributed the increase to improvement in the economic outlook that enabled it to release allowances it had set aside for expected loan losses.

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