HSBC boss bows out with forecast-beating results and more returns for investors

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. After delivering record profits in 2023, we had another strong profit performance in the first half of 2024, which is further evidence that our strategy is working Noel Quinn, HSBC Shares lifted 3% in morning trading on Wednesday. Mr Quinn said: “After delivering record profits in 2023, we had another strong profit performance in the first half of 2024, which is further evidence that our strategy is working.” He added: “I have always been immensely proud of the heritage of this bank and the strategic role it plays in the world. “We’re now in a position to accelerate the pace of execution of this strategy.” He said HSBC is on track to cut costs over the full year, despite seeing operating expenses rise 5% in the first half to 16.3 billion dollars, driven largely by technology spend and investment, inflationary pressures, and an increase in the performance-related pay accrual. I want to keep my brain ticking over and remain engaged Noel Quinn's plans for life after HSBC In the UK, following the Labour Party’s recent landslide victory, Mr Quinn said the group is “positive about the Government’s intention to support growth”.