HSBC Holdings reported a second-quarter pretax profit of $10.1 billion, a 60% increase from a year ago, and announced a new share buyback of up to $1 billion. Profit after tax rose 63% to $7.9 billion, while first-half pretax profit climbed 23% to $19.5 billion, driven by a $1.6 billion rise in banking net interest income to $22.9 billion and stronger wealth management and transaction banking contributions. The bank declared a second interim dividend of $0.10 per share and ended the quarter with a common equity Tier 1 ratio of 14.1%. U.S.-listed shares rose about 0.9% in Friday's regular session.
HSBC Holdings PLCHSBC reported strong Q2 pretax profit of $10.1B, up 60%, and announced a $1B buyback, boosting shareholder returns.
