Europe was HSBC Global Private Banking’s (GPB) best performing region during the first half of 2019, according to the geographic breakdown of profits by operating region presented on page 46 of the UK-based bank’s latest interim report.

With pre-tax profits of $194 million for the year to 30 June 2019, Asia was GPB’s best performing region in absolute terms. But this was $4 million below the $198 million recorded for the same period in 2018.

Although Europe posted a loss of $7 million, this was a $54 million improvement on the $61 million loss registered twelve months ago.

The big turnaround in Europe ma...