8/2, 6:11 AM (Source: TeleTrader)
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HSBC H1 profit before tax surges 151% to $10.8B

Investment banking company HSBC announced on Monday that it booked profit before tax of $10.8 billion in the first six months of 2021, over 151% up compared to the same period last year, while its revenues landed at $25.6 billion, down by 4% compared to the results seen in the first half of 2020. The company's diluted EPS landed at $0.36 in the time period, rising compared to last year's $0.10.

In the second quarter of the year, the British-based company's profit after tax went up by $3.2 billion to $3.9 billion, while its profit before tax came in at $5.1 billion, improving compared to 2020's income of $1.1 billion.

"I’m pleased with the momentum generated around our growth and transformation plans, with good delivery against all four pillars of our strategy. In particular, we have taken firm steps to define the future of our US and continental Europe businesses, and further enhanced our global Wealth capabilities," Group CEO Noel Quinn said.

Breaking the News / NL