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HSBC almost doubled their pre-tax profits to $8.4bn (£5.4bn) in the first three months of 2013 after a three-year efficiency drive and a reduction in bad debt charges.

HSBC, Europe’s largest bank, acted quicker and more aggressively to cut costs than many of their rivals after the credit crunch.  They continue to make redundancies, with a further 6,000 staff set to be cut on top of the 40,000 already gone.

May 10, 2013
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