Banking giant HSBC set a new European record for half-year earnings after profits rose 53 per cent to £5.14 billion in the first six months of 2004.
The improvement, which was ahead of market expectations, reflects a full contribution from Household, the US consumer finance arm it acquired in 2003.
In Europe, where HSBC generates about a third of its earnings, profits before exceptional items stood at £1.68 billion for the half-year.
Group chairman Sir John Bond described the figures as a solid performance, reflecting revenues growth and a disciplined management of costs.
Tuesday August 03, 2004
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article