HSBC is expected to nearly double its first quarter profits to $8.1 billion today, retaining its reputation as one of the most profitable banks in the world.

The fall in costs contributing to HSBC’s impressive profits are largely attributed to the wide-scale restructuring the bank has undergone in recent years; HSBC is seen has having acted more quickly than many competitor banks to make cuts and re-organise its business to match the new tougher business environment. This has involved job cuts as well as changes to targets and bonuses.

Read more about HSBC in the news.