Interim reports Bank giant HSBC’s operating profit more than doubled in the first half of the year

British Bank’s revenue fell four per cent to $ 25.6 billion.

World HSBC, one of the largest banks, more than doubled its operating profit in the first half of the year.

The company said its operating profit increased to $ 10.8 billion, or just over nine billion euros.

In the comparison period, the operating profit of a British bank headquartered in London a year earlier was $ 4.3 billion, or about € 3.6 billion.

BBC’s according to the giant, the gains were particularly driven by the economic recovery in its two largest markets, the UK and Hong Kong.

According to the banking group, its UK operations generated an operating profit of more than $ 2.1 billion, or more than 1.7 billion euros, in the first half of the year.

HSBC also said it will start paying dividends to its shareholders again.

Bank giant net sales fell 4 percent to $ 25.6 billion, or about $ 21.5 billion.

According to Reuters, the decline in revenue was largely due to low interest rates in the Asian market, where the company makes most of its money, and lower performance by its investment bank than in the comparison period.

CEO of HSBC Noel Quinn tells Reuters that the company is seeking growth in fees from wealthy clients’ investment management and by shifting its investment banking resources from Europe and the United States to Asia.

In addition, Quinn does not expect a decline in investor willingness to invest in China. The country’s authorities have recently taken a tougher line, especially in the supervision of Chinese technology companies.



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