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HONG KONG — HSBC said Tuesday that profits rose on strong earnings from Asia, in the latest sign that the London-based global bank’s restructuring to focus even more on the region is paying off.

The bank said pretax profit, after adjusting for one-off items and currency fluctuations, increased 11 per cent to $21 billion in 2017, as adjusted revenue climbed 5 per cent to $51.5 billion.

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Net income more than quadrupled to $10.8 billion.

“Asia again contributed a substantial proportion of the group’s profits,” the company’s chairman, Mark Tucker, said in a statement.

The bank is Europe’s biggest but Asia accounted for nearly nine-tenths of total profits last year, when HSBC completed a sweeping multiyear corporate revamp to raise profitability.

The overhaul included laying off thousands of workers, bringing in new leadership and selling off its businesses around the globe to focus on emerging markets in Asia.