HSBC on sound footing
Global bank HSBC has announced a 22 per cent rise in half-year net profit to $US10.28 billion ($11.5 billion), citing lower costs and falling bad-debt charges. Chief executive Stuart Gulliver (pictured) sounded a note of caution over China, where the economy is growing at a slower pace. Analysts said the key metrics of profits, costs, impairments and return on capital all remain strong or improving.
Global bank HSBC has announced a 22 per cent rise in half-year net profit to $US10.28 billion ($11.5 billion), citing lower costs and falling bad-debt charges. Chief executive Stuart Gulliver (pictured) sounded a note of caution over China, where the economy is growing at a slower pace. Analysts said the key metrics of profits, costs, impairments and return on capital all remain strong or improving.
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