A Bloomberg survey had expected the bank’s pre-tax profit to be $4.96 billion in the second quarter.
He referred to “HSBC.” The growth in its profits for the second quarter is due to the growth of the banking and commercial services sector of the bank.
The bank’s revenues in the second quarter amounted to 13.1 billion dollars, a growth of 12 percent on an annual basis, compared to expectations that the bank’s revenues for the quarter would be 12.8 billion dollars.
The bank’s CEO, Noel Quinn, said in a statement that the bank is confident of its ability to achieve a return on equity of at least 12 percent starting from 2023 and for the years to come.
He added that a 12 percent return is the best in about 10 years.
He mentioned “HSBC.” The bank is seeking to return to pay quarterly dividends starting next year.
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