HONG KONG/LONDON – HSBC Holdings reported on Aug 4 a 23 per cent first-half profit surge that bettered expectations, as rising net interest income and revenue from wealth management pushed up fee income on robust money and deal flows.
Europe’s largest bank posted a pretax profit of US$19.5 billion (S$25 billion) for the first six months of this year, versus US$15.8 billion a year earlier.
That compared with the US$18.9 billion average of broker estimates compiled by HSBC.
HSBC announced a resumption of its share buybacks with an up to US$1 billion plan, the first since it took smaller Hong Kong lender Hang Seng Bank private.
The bank also announced a second interim dividend of 10 US cents per share, following a similar payout in May. REUTERS
