HSBC profits seen up 10% as cost cuts pay off

LONDON: HSBC Holdings is expected to report a 10 percent rise in quarterly profit on Monday as Europe's biggest bank benefits from cost cuts and the absence of a big provision to cover a fine last year.

The rise is unlikely to put to rest concerns about HSBC's growth prospects as tougher regulations squeeze profits, investment banking income drops and the threat remains of further litigation over the bank's past conduct.