Investing.com-- HSBC Holdings PLC (LON:HSBA) on Tuesday reported a 14% decline in third-quarter profit as higher costs and hefty legal provisions offset solid revenue and lending income growth, though the bank maintained its upbeat guidance for the year.

The announcement comes a day after the banking giant revealed it will set aside £826m following a court ruling.

ValidiFI, Inc., a leader in predictive bank account and payment intelligence today announced that HSBC, one of the world's largest banking and financial services organizations, has chosen ValidiFI's advanced account validation and risk detection solutions to enhance the integrity of bank accounts used to pay credit card balances.

Shares in Advanced Micro Devices (AMD) were up 2.2% in pre-market trading on Monday, extending gains from Friday's session, when the stock jumped 7.6%. AMD shares rose after Reuters reported on Friday that IBM (IBM) can use the company's chips to run a quantum computing error correction algorithm.

HSBC has set aside $1.1billion to cover potential costs arising from a lawsuit related to Bernard Madoff's Ponzi scheme.