HSBC has seen its quarterly profits jump by 10% as the UK-based banking giant embarks on one of the biggest shakeups in its 159-year history.

The firm said its pre-responsibility profits rose to $8.5bn (£6.6bn) in the three months to the complete of September, beating analysts’ expectations.

It comes just days after HSBC’s recent boss announced a major overhaul of the corporation.

The firm will be divided geographically into eastern and western markets amid increasing geopolitical tensions and a require to cut costs.

HSBC’s recent chief executive, Georges Elhedery, said that implementation of the plans will “commence immediately” and promised to distribute more details alongside the lender’s packed-year results in February.

“We delivered another excellent quarter, which shows that our schedule is working,” Mr Elhedery added.

The lender also said it will buy back another $3bn of its own shares.

HSBC shares were more than 4% higher in London morning trade after the announcement.

“HSBC’s third-quarter results were solid, with no major surprises,” said Michael Makdad is a elder ownership analyst at monetary services firm Morningstar.

“Rather than the generally excellent results, I ponder the focus… will be on the structural overhaul”.

The lender also said it expects to complete the sale of its Argentinian business by the complete of this year.

The corporation makes most of its money in Asia and has been shifting its focus to the region in recent years.

HSBC has also recently announced a reshuffle of its leadership, with the appointment of Pam Kaur as its first ever female finance chief.

Ms Kaur has worked at the lender for more than a decade and is currently its chief hazard and lawful operation officer.

As well as becoming HSBC’s chief monetary officer, Ms Kaur will receive up the role of executive director of the board, which is subject to election at the firm’s next annual general conference.

Mr Elhedery replaced Noel Quinn as HSBC’s chief executive in early September.

It came at a crucial instant for the lender, as it tries to maintain its position in Asian and Western markets amid growing geopolitical tensions.