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.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles