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Cleaner and leaner HSBC struggles to grow

Investors remain sceptical, with HSBC shares having fallen 17 per cent this year and trading on just 80 per cent of the global bank's latest reported book value.

Hong Kong

THE global bank's third-quarter earnings were free of the big fines and compensation claims that have been a recurring feature in recent years. That suggests hefty investment in compliance may be generating returns. HSBC forked out just US$200 million in the latest three-month