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Even without the recent purchases, HSBC's commercial and corporate banking results were solid, analysts said.
The results were buoyed by strong trading and investment banking results.
Beyond the banking results, other indicators of economic health have proved dispiriting as well.
"Under the circumstances, investment banking results were reasonably strong," said Richard Strauss, an analyst at Goldman , Sachs
US investment banking results so far have highlighted lacklustre performance, with the second half of 2012 outlook challenging.
"Strong merchant banking results really carried the quarter," said Judah Kraushaar, an analyst at Merrill Lynch & Company.
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Many states in the Midwest were slower to adopt branch banking, resulting in many small banks with just a few branches.
Bacardi, in alliance with Brown-Forman, an American firm, is also interested.Bad banksBank of America issued a profit warning for the fourth quarter, blaming rising bad debts and poor investment-banking results.
Investors were not impressed by the banks' results.
Wells Fargo, the US's biggest lender, kicked off the latest bank results reporting season last Friday.
The recent bath of bank results underscored that many borrowers are in trouble already.
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