HSBC rules out exit from UK as bank tax rise looms in Wednesday's budget
Bank posts 32% rise in quarterly profits to $9.6bn; CFO says question of leaving London “not on the table”
HSBC's chief financial officer, Pam Kaur, has moved to end speculation that the bank could shift its headquarters out of the UK over expected tax increases in Wednesday's budget, telling journalists there was “no pressure” to leave London. The reassurance came as the bank reported a 32% rise in third-quarter profits to $9.6bn and announced $2.7bn in shareholder returns.