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8/1, 6:28 AM (Source: TeleTrader)
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HSBC H1 profit before tax falls 15% to $9.2B

HSBC Holdings plc announced on Monday it booked a pre-tax profit of $9.2 billion in the first six months of 2022, over 15% lower compared to the same period last year, while its revenues decreased marginally to $25.2 billion. Meanwhile, the company's diluted EPS landed at $0.41, rising compared to last year's $0.36.

In the second quarter of the year, the British-based company's profit before tax landed at $5.0 billion, compared to last year's $4.1 billion, while its revenue grew by $0.2 billion to $12.8 billion.

"The progress we have made in growing and transforming the business gives us a strong starting point as we enter the current interest rate cycle," Group CEO Noel Quinn said.

Baha Breaking News (BBN) / NL