Key facts
- HSBC reported a 23% increase in first-half pretax profit.
- HSBC's first-half pretax profit reached $19.5 billion.
- HSBC's profit growth was driven by its Asia wealth management business and higher net interest income.
2 storiesEquities & FundsEarnings season & quarterly resultsRevenue & profit guidance updatesStock buybacks & share repurchases
HSBC profit jumps 23% on Asia wealth, plans $1B buyback
IN SHORT
HSBC reported a 23% increase in first-half pretax profit to $19.5 billion, fueled by its Asian wealth management business and higher net interest income. The bank also plans a $1 billion share buyback. Meanwhile, Metro Bank saw its profit jump 41% to £60.7 million, with revenue rising 5% to £301 million. Metro Bank is focusing on expanding small business lending to counter issues with legacy portfolios.
Key Numbers
23%HSBC profit increase
$19.5 billionHSBC first-half pretax profit
$1 billionHSBC share buyback amount
41%Metro Bank profit increase
£60.7 millionMetro Bank half-year pre-tax profit
5%Metro Bank revenue increase
£301 millionMetro Bank revenue
Who's Involved
HSBC
bank reporting increased profit and share buyback plans
Metro Bank
bank reporting increased profit and expansion of small business lending
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