HSBC: strong first-half results across major businesses.
(CercleFinance.com) - HSBC said it had an "excellent" first half of 2017, with higher pre-tax profit.
The bank posted first half pre-tax profit of 10.2 billion dollars, up from 9.7 billion. Adjusted profit - which reflects "the underlying trends in the business" - rose 12% to 12 billion dollars.
Operating expenses were 12% lower than a year ago, and HSBC said it benefited from growing market share in many products that are considered as strategic.
In particular HSBC cited "robust" commercial banking customer activity and "stronger" wealth management and insurance revenues in Hong Kong.
"The group delivered strong results across its major businesses, providing further evidence of a successful repositioning," said group chairman Douglas Flint, who will retire later this year.
HSBC added that it remained on track to complete the majority of its strategic actions by the end of the year.
HSBC shares were up 3.4% this morning in London, outperforming the FTSE index, which is up 0.7%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The bank posted first half pre-tax profit of 10.2 billion dollars, up from 9.7 billion. Adjusted profit - which reflects "the underlying trends in the business" - rose 12% to 12 billion dollars.
Operating expenses were 12% lower than a year ago, and HSBC said it benefited from growing market share in many products that are considered as strategic.
In particular HSBC cited "robust" commercial banking customer activity and "stronger" wealth management and insurance revenues in Hong Kong.
"The group delivered strong results across its major businesses, providing further evidence of a successful repositioning," said group chairman Douglas Flint, who will retire later this year.
HSBC added that it remained on track to complete the majority of its strategic actions by the end of the year.
HSBC shares were up 3.4% this morning in London, outperforming the FTSE index, which is up 0.7%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.