HSBC reveals ‘strong profit performance’ for first half of 2024
Banking giant HSBC has recorded a pre-tax profit of 21.6 billion US dollars (£16.8 billion) for the first half of 2024. The company called the result “stable” after it reported a mammoth 21.7 billion US dollars in pre-tax profit in the first half of last year.
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00:00Hello, my name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.
00:05Here are your headlines for this morning.
00:07The banking giant HSBC has recorded a pre-tax profit of US$21.6 billion for the first half of 2024.
00:17The company called the result stable after it reported a mammoth US$21.7 billion in pre-tax profit in the first half of last year.
00:28Operating expenses of US$16.3 billion were 5% higher than in the first half of 2023,
00:35driven by higher technology spending and investment inflationary pressures and an increase in the performance-related pay accrual.
00:44There's an update this morning from HSBC which recorded a pre-tax profit of US$21.6 billion for the first half of 2024.
00:53My name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.