HSBC has become the latest major bank to confirm it is helping with a probe into possible manipulation of global currency markets.

This comes after the bank reported a 10% rise in quarter profits, aided by lower costs.

HSBC said it was cooperating with early-stage investigations by Britain's Financial Conduct Authority and agencies in several countries into a number of firms, including HSBC, relating to trading on the foreign exchange market.

Rivals including Barclays, Deutsche Bank and JPMorgan said last week they were co-operating with regulators examining possible collusion in the $5.3 trillion a day currency market.

HSBC's chief executive Stuart Gulliver has pledged to instill a more responsible culture and reduce risk across his bank after it was fined a record $1.9 billion last year for lax anti-money laundering compliance in Mexico and elsewhere.

HSBC reported an underlying pretax profit of $5.1 billion for the three months to September 30, up 10% from a restated $4.6 billion last year, after excluding the impact of changes in the value of its own debt.

On a statutory basis, profits rose 30% from a year ago.

The rise, in line with analysts' forecasts, was underpinned by a $700m drop in operating expenses to $9.6 billion, but the bank said that was mainly due to the absence of one-off items last year. 

The bank said that underlying costs were up on the year due to investments, wage inflation and regulatory costs.