|HSBC bank says 1st half profits at $10.2 billion||| Print ||
|Written by Associated Press|
|Monday, 05 August 2013 05:28|
LONDON (AP) — HSBC PLC, Europe's biggest bank by market value, saw its profits rise 22 percent in the first half of the year as it reaped the benefits of recent restructuring measures.
The bank, which has a big presence in many emerging markets in Asia, including China, said Monday that its net profit rose to $10.2 billion in the first half of the year from $8.4 billion in the same period of 2012.
Chief Executive Stuart Gulliver says the results demonstrate that the bank is delivering on its strategy — a rigorous cost cutting program.
Copyright 2013 The Associated Press.