Banking behemoth
The
The bank said all of its regions were profitable, with HSBC’s
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Profits were boosted by the release of credit loss provisions, after the bank put aside some
Boss
Though profits swelled, revenues were down 4 per cent due to low global interest rates.
The Bank’s net interest margin fell again to 1.21 per cent, down .22 on last year.
The Board also announced an interim dividend of
Hargreaves Lansdown’s
“As well as expanding its overall wealth business, the bank has been shifting to
“Although recovery in the region has so far been good news for HSBC’s profits, it has faced reputational headwinds over accusations it was too close to Chinese authorities which have cracked down on pro-democracy protestors in Hong Kong.
“Worries are now rife that there could be a downturn in investment due to Beijing’s crackdown on tech and online educational firms in particular. So far the bank says it isn’t changing its forecasts of investment pouring in to seek out opportunities, but the days are still early, and there are some concerns it could upset its resilient recovery.,” she continued.
The post First-half profits double at
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