Lates News

HSBC's pre-tax profit in the second quarter grew by 60% to $10.1 billion, exceeding analysts' expectations, primarily due to the strong performance of its wealth management business. At the same time, HSBC announced a share repurchase program worth up to $1 billion. The bank achieved revenue of $19.1 billion in the three months ended June 30, surpassing the consensus estimate of $18.6 billion compiled by the company, and representing a 16% increase compared to the same period last year.