Emerging markets boost HSBC’s profits

"Emerging markets have been very successful for us," said Rob Loewy, head of FX at HSBC in London. "Given our position of strength in that area we benefited from increased activity in those currencies."

Asia proved to be a particular strength, said Loewy. "We are a competitive provider of liquidity in Asia, and that has increased our market share in the region," he said.

An 18-month investment in FX derivatives was also key to the year-on-year increase, he added. "We targeted the way we appro