Trending: HSBC's Net Profit Doubles; To Buy Back More Shares
August 01 2023 - 5:41AM
Dow Jones News
0911 GMT - HSBC Holdings is one of the most mentioned companies
in the news over the past six hours, according to Factiva data,
after the Asia-focused bank posted first-half earnings. The bank
said its net profit more than doubled to nearly $17 billion in the
January-June period, thanks to higher interest rates that helped
its net interest income to exceed $18 billion. HSBC guided for net
interest income to exceed $35 billion for the full year, citing
current market consensus for global central bank rates. In addition
to the strong profits and a promising outlook, the lender said it
would tack on an additional $2 billion in share buybacks to the $2
billion it said it would buy back when it announced first-quarter
results. Dow Jones & Co. owns Factiva.
(jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
August 01, 2023 05:26 ET (09:26 GMT)
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