teknolojiarsivi.com
teknolojiarsivi.com August 23, 2017


HSBC sees half-year profits rise by 5%

01 August 2017, 10:50 | Vickie Mathis

HSBC Holdings PLC on Monday said profit rose 5 percent in the first half of 2017

HSBC Holdings PLC on Monday said profit rose 5 percent in the first half of 2017

Great Britain's banking giant HSBC announced a United States dollars 2 billion share buy-back in 2017 after the entity delivered healthy financial results in first half of the year.

The move was revealed in a trading update from the bank, which showed pretax profit rose by 5% in the first-half to $10.2 billion.

The company΄s profits from January to June in 2017 rose 5 percent to $10.2 billion (9.12 billion euros) compared with $9.7 billion for the same period a year ago. It completed a previously announced $1 billion buyback in April.

He said the bank's strong capital generation means it is likely to keep its annual dividend at $0.51 per share and every six months look at whether it has more capital than it needs to increase lending profitably and meet regulatory needs.

HSBC Chairman Douglas Flint said a meeting he attended between Brexit minister David Davis and United Kingdom company executives this month showed signs of an improved relationship between the government and business over Brexit.

Mr. Gulliver in an interview said the bank is seeing the fruits of the strategy he laid out in June 2015, including getting more cross-unit business from its 38 million customers.

The bank also announced a further US$2 billion share buy back. He has spent most of his tenure attempting to improve profitability by shrinking HSBC's vast global network, exiting nearly 100 businesses and 18 countries.


"We've got revenues heading in the right direction across all our major businesses and regions", HSBC's Finance Director Iain Mackay said in a phone interview with Bloomberg Television's Manus Cranny. But on Monday he said that he could stay at the bank until December 2018, if an external candidate is appointed to take over.

HSBC has implemented wide-ranging structural changes since the 2008 financial crisis focused on streamlining the business and bringing down operating costs.

In the same year which saw Donald Trump elected as USA president and the United Kingdom vote to leave the European Union, HSBC΄s profits slumped to $2.48 billion compared with $13.52 billion in 2015 - a drop of 82 percent.

HSBC has reported a rise in half-year profit and announced a two billion U.S. dollar (£1.5 billion) share buy-back.

HSBC pulled capital from its United States business earlier this year for the first time in more than a decade.

Focus on ChinaThe bank announced two years ago it would hire 4,000 staff and lend more in China's southern Pearl River Delta region, a plan that has since encountered some setbacks as China's growth slowed, showing both the risks and opportunities. This will help push the stock's value further up, one that is already up 49% over the past 12 months and year-to-date is up over 21%.



Other News

Trending Now

Israel says Jerusalem mosque metal detectors to stay, may be reduced
Angry demonstrations calling for the removal of the metal detectors are also taking place in cities across the Muslim world. The Palestinian president has suspended all contacts with Israel until metal detectors near the al Aqsa mosque are removed.

Netanyahu Vows To Bring Home Guard From Jordan
Meanwhile, four Palestinians were killed in ongoing demonstrations against Israeli security forces Friday and Saturday. Israel shut off the mosque compound on 14 July after Arab Israelis attacked and killed two police officers nearby.

Geoffrey Kondogbia scores outrageous own goal against Chelsea, fans can't believe it
Here, we take a look at the talking points from the game - including the outrageous own goal Geoffrey Kondogbia scored for Chelsea ...

ASUS to launch three ZenFone 4 series phones next month
The recent leak says that the multiple Zenfone 4 variants have been certified by NCC, which is equivalent to FCC in Taiwan. For photography, the Asus Zenfone 4 Max sports a dual rear camera setup that comes combined with two 13-megapixel sensors.

Teen driver livestreams crash that killed sister
Her younger sister was reportedly killed in the accident. "I know I'm going to jail for life", The Daily Mail reports. A 14-year-old girl was thrown from the auto and died on Friday, according to the California Highway Patrol .

Gold at three-week high as European Central Bank comments lift euro, dollar falls
Among the most important data expected in the coming week, investors will be keenly waiting for second-quarter U.S. Most economists expect the governing council to postpone any decision on tapering until their September meeting.

Toyota reportedly set to release fast-charging, long-range electric cars by 2022
Electric cars have made resounding progress in recent years, but they have yet to break into the mainstream market. According to the Japanese newspaper, the new electric vehicle will be launched at first in Japan in 2022.

San Bernardino County's unemployment rate increases to 5.4 percent in June
However, overall industry jobs have grown by about 1,100 between June 2016 and June 2017, according to Weaver. Other elevated rates were 6.7 percent in Imperial Beach and 6.3 percent within El Cajon's city limits.

Legendary raids can catch Legendary Pokemon; possible release in a few days
Once located, players can team up to join a Legendary Battle Raid to defeat the Pokemon and earn a chance to catch it. This is the Challenge Windows in which players need to gather enough number of Pokemon to win the obstacle.

Arkansas toddler recovering after severe brain damage
But after 10 sessions of therapy , Eden is now able to walk and speak better than before her accident. They called his clinic near New Orleans to see if hyperbaric treatment could bring her back.