HSBC Buys Back One Billion in Shares

HSBC Bank announced a share buyback worth one billion dollars after posting a profit of $10.1 billion in the second quarter, surpassing expectations of around $9.5 billion. This move comes following a 23% increase in the bank’s pre-tax profits in the first half of the year, totaling $19.52 billion, with total revenues rising by 11% to reach $37.7 billion. The board of directors approved a second interim dividend of $0.10 per share, supporting strong growth in wealth management and commercial banking sectors, along with improved client activities.

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