August 4, 2019 / 10:57 PM / a month ago

HSBC first-half profit rises 16%, announces $1 bln buyback

HONG KONG/LONDON, Aug 5 (Reuters) - HSBC reported on Monday its first-half pretax profit rose 15.9% and announced a further buyback of $1 billion, defying some analysts’ expectations it might pause its strategy of returning extra capital to investors.

Europe’s biggest bank by assets reported a pretax profit for the first six months of $12.41 billion, up from $10.71 billion in the same period a year earlier.

Reporting by Sumeet Chatterjee and Lawrence White; Editing by Muralikumar Anantharaman and Daniel Wallis

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