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HSBC reports $10.1B quarterly profit
HSBC Bank achieved a pre-tax profit of $10.1 billion in the second quarter of the year, surpassing expectations of $9.51 billion, supported by growth in net interest income and increased fee revenues. Revenues also rose by 16% to $19.1 billion, driven by exceptional gains of $1.3 billion and a 60% increase in pre-tax profits compared to the same period last year. The bank maintained its target of a 17% return on tangible shareholders' equity, with a second-stage dividend of 10 cents per share and the launch of a $1 billion share buyback program.
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