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HSBC profit more than doubles , better than expected

HSBC profit more than doubles , better than expected 1

HONG KONG/LONDON (Reuters) – HSBC Holdings said on Monday first-half pretax profit more than doubled, beating expectations as the bank benefited from an economic rebound in Hong Kong and Britain, its two biggest markets.

Pretax profit for Europe’s biggest bank by assets came in at $10.8 billion versus $4.32 billion in the same period a year earlier and was higher than the $9.45 billion average of 15 analysts’ estimates compiled by the bank.

(Reporting by Alun John in Hong Kong and Lawrence White in London; Editing by Edwina Gibbs)

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