HSBC boasts ‘strong profit performance’ for first half of 2024
The IndependentFor 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. Read our privacy policy Banking giant HSBC has recorded a pre-tax profit of 21.6 billion US dollars 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. Operating expenses of 16.3 billion dollars were 5% higher than in the first half of 2023, driven primarily by higher technology spend and investment, inflationary pressures, and an increase in the performance-related pay accrual. In a statement, group chief executive Noel 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.
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