HONG KONG/LONDON HSBC Holdings reported a 240% increase in third-quarter pre-tax profit on Monday as higher interest rates boosted profitability, although it missed market estimates.

Europe's largest bank with a market value of $118.6 billion posted a pre-tax profit of $7.7 billion for the July to September quarter, versus $3.2 billion a year earlier, trailing the $8.1 billion mean average estimate of brokers compiled by HSBC.

(Reporting by Selena Li in Hong Kong and Lawrence White in London; Editing by Jamie Freed)