Investment Banking

HSBC’s investment bank up 20% as profit triples on higher interest rates

The UK lender saw an increase in dealmaking fees and trading revenue during the first quarter

'Our strong first-quarter performance provides further evidence that our strategy is working,' said chief executive Noel Quinn
'Our strong first-quarter performance provides further evidence that our strategy is working,' said chief executive Noel Quinn Photo: Getty Images

HSBC's investment bank revenue surged by 20% in the first quarter, as the UK lender saw an increase in both trading and dealmaking fees during the period.

The bank brought in $4.4bn within its global banking and markets unit during the first quarter, up by 20% from the same period in 2022.

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