HSBC beat forecasts with first-half pretax profit that more than doubled from last year when it set aside $7 billion to cover bad loans
Profit rebounds mostly due to plunge in bad loan provisionsChina regulatory crackdowns won't kill investment appetite -CEObeat forecasts on Monday with first-half pretax profit that more than doubled from last year when it set aside $7 billion to cover pandemic-related bad loans.
HSBC reported pretax profit of $10.8 billion, higher than the $4.32 billion in the same period a year earlier and a consensus estimate of $9.45 billion compiled by the bank. "We're still in the early days of the economic rebound, we need to see all those numbers become the trend for the future, we are encouraged but there is more still to go," he said.
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