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Europe’s largest lender HSBC posted a slim decline in pretax revenue within the first half of the yr, however beat expectations on the again of a high-interest charge surroundings.
The financial institution posted pretax revenue within the six months to June of $21.56 billion, down from $21.66 billion in the identical interval of final yr. The primary-half determine nonetheless got here in nicely above the $20.5 billion common of dealer estimates compiled by HSBC, in keeping with Reuters.
“We’re rising and investing in our worldwide retail and wealth enterprise to sit down alongside this, which helps to diversify income,” HSBC’s outgoing CEO Noel Quinn mentioned Wednesday.
“Every of those strengths contributed to an excellent income efficiency within the first half of 2024, supported by increased rates of interest.”
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