Banking giant HSBC, which operates in almost 90 countries world-wide, today reported better-than-forecast pre-tax profit more than double at $11.1bn on a reported basis, with underlying pretax profit up 30% at $9.6bn. Profit attributable to shareholders more than doubled to $6.8bn on a reported basis in the half-year to end-June. Loan impairment charges and other credit risk provisions were down $6.4bn to $7.5bn, the lowest since the start of the financial crisis.
Earnings per share up 81% to $0.38 (first half 2009: US$0.21). The group declared dividends of $2.8bn, or 16 cents per ordinary share, in respect of the period.
HSBC said it was profitable in every customer group and in all regions outside North America. Diversified Global Banking and Markets business delivered another very strong performance, while Commercial Banking was well placed to support rebounding international trade. Strong Asia profits reflected investment in building a presence across the region.
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