HSBC's global chief has hinted many jobs could be cut at the international bank after it experienced worse-than-expected profits in parts of Europe and the United States. 

Europe's largest bank said profit before tax in these two regions fell 18 per cent to $4.8bn in the third quarter and warned of a "challenging" environment ahead.

Interim Chief Executive Officer Noel Quinn – who took over in August after John Flint suddenly stepped down – said on Monday: "There is scope throughout the bank to clarify and simplify roles and to reduce duplication." But he didn’t elaborate further. 

HSBC employs around 238,000 people full-time worldwide. Talk of potential job cuts was mooted earlier this month by the Financial Times, which reported that the bank is planning to cut up to 10,000 jobs, or 4 per cent of its global workforce. 

Earlier this month, the bank's Malta operation announced it was closing eight of its branches in the country by the end of this year. It did not say how many staff would be affected but admitted it was offering voluntary redundancy schemes.

HSBC Malta CEO Andrew Beane said that decision was about the bank refocusing its business model to become more digital-centric, following its customers' needs. 

Times of Malta also reported last week that HSBC is raising its fees and reducing its interest rates on several accounts from January. 

HSBC has been navigating uncertainty arising from Brexit, the US-China trade war and ongoing unrest in Hong Kong. However, it has managed to make money in Asia, where it makes most of its profits.