Monday, 20 September, 2021

Banking giant HSBC sees profit more than double

  • Sun Online Desk
  • 2nd August, 2021 06:50:38 PM
  • Print news
Banking giant HSBC sees profit more than double


Profits at banking giant HSBC more than doubled in the first half of the year as it benefited from an economic rebound in Britain and Hong Kong.

Europe's biggest bank by assets saw pre-tax profit for the period rise to $10.8bn (£7.8bn), compared to $4.3bn for the same time last year.

The UK-based bank said all regions had been profitable in the period.

The figures come as the global economy emerges from the impact of the coronavirus pandemic.

"I'm pleased with the momentum generated around our growth and transformation plans, with good delivery against all four pillars of our strategy. ", said HSBC chief executive Noel Quinn, BBC reported.

Boosted by the economic rebound in its two biggest markets, Britain and Hong Kong, the bank reinstated dividend payments to shareholders.

It plans to pay an interim dividend of seven cents a share after the Bank of England last month scrapped curbs on such pay-outs to investors.