HSBC Holdings reported a better-than-expected first-half profit and raised its net interest income target, driven by revenue growth in lending and wealth management fee earnings on robust money flows.
Profit and Buyback
Europe’s largest bank posted a pretax profit of $19.5 billion for the first six months of this year, up 23% from $15.8 billion a year earlier and ahead of the $18.9 billion that analysts forecast. The lender announced a resumption of its share buybacks with an up to $1 billion plan.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
