HSBC (0005) reported on Tuesday a 23 percent first-half profit surge that bettered expectations, as rising net interest income and revenue from wealth management pushed up fee income on robust money and deal flows.
Europe's largest bank posted a pretax profit of US$19.5 billion for the first six months of this year, versus US$15.8 billion a year earlier.
That compared with the US$18.9 billion average of broker estimates compiled by HSBC.
HSBC announced a resumption of its share buybacks with an up to US$1 billion plan, the first since it took smaller Hong Kong lender Hang Seng Bank private.
The bank also announced a second interim dividend of US$0.1 per share, following a US$0.1 payout in May.
Reuters
