HSBC (HBC -2.7%) says profits are 'well ahead' of 2009 levels and Q3 loan impairments were the lowest since early 2007. Analysts aren't impressed: "Overall group revenues down, Europe profitability not good, North America shrinking the balance sheet and still in losses. They're left talking about remaining the market leader in Hong Kong. Well what a shock. They've been the market leader for 150 years."