But European profits are down by 7% compared with the previous year, according to HSBC.
The answer is yes, according to HSBC analyst Antonin Baudry.
Strong fundamentals along with ample liquidity, which will remain in the system even after the end of QE2, and a lagging, even deteriorating economic outlook for developed nations, will provide support for EM investments in the short-term, according to HSBC.
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But it will be almost nothing in many other countries too, according to an HSBC report.
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Manufacturing activity in China grew at its fastest pace in two years in January, according to data from HSBC.
BBC: China manufacturing activity at two-year high, says HSBC
Still, according to analysts, HSBC can take advantage of its local presence in key growing markets where it has a long-standing base, especially in Asia.
Of those, 75 percent are married with kids, 13 percent are married with no children, and 12 percent are single, according to the latest HSBC Affluent Asian Tracker.
According to Morgan Stanley, HSBC, Barclays, Santander and Nationwide all take a rosier view than Lloyds of the likelihood of default by homeowners.
Shortly after, the agents turned their attention to HSBC, according to people familiar with the probe.
According to a report in the Financial Times last February HSBC has been in advanced talks to move Chris Meares, the global head of its private bank, to Hong Kong from London.
Another troubled bank was folded into HSBC, with a guarantee, according to some.
France, however, kept copies of the data on the HSBC account holders and returned other copies to HSBC on Mar. 3, according to the bank.
According to a report in the Daily Telegraph that did not cite sources, HSBC is "particularly interested" in Citi's businesses in Brazil, Argentina and Mexico.
The Justice Department has a separate probe into whether HSBC aided tax evasion by U.S. clients, according to the people familiar with the investigations.
According to our research, Citi's five-year roe was 19.5%, compared with HSBC's 20.9%.
According to Professor Wen Hai, an economist and vice president of Peking University, as well as dean of the HSBC School of Business, SOEs appear profitable only because the government controls their prices.
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