British bank – HSBC doubles profits – economy

Big British bank HSBC more than doubled its pre-tax profit in the first half of the year. Nevertheless, the board of directors of the largest European financial institution remains cautious. “We are still in the early stages of economic recovery,” said CEO Noel Quinn. He expects relentless investment efforts from China, although regulatory measures in the People’s Republic have increased. “We see strong liquidity looking for investment opportunities in Hong Kong and Asia,” said the boss of HSBC. In the first half of the year, the bank’s pre-tax profit climbed to $ 10.8 billion from $ 4.32 billion in the same period last year. However, sales fell four percent in the first six months due to low interest rates, which should be a challenge in the longer term.

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