HSBC’s H1 profit jumps 23% on higher rates

HSBC Holdings reported on ​Tuesday a 23% first-half profit surge that bettered expectations, as rising net interest income and revenue from wealth management pushed ‌up fee ‌income on ​robust ‌money ⁠and ​deal flows.

Europe’s largest ⁠bank posted a pretax profit of $19.5 billion for the first six months of this year, versus $15.8 billion ⁠a year earlier.
That ‌compared ‌with the $18.9 billion ​average ‌of broker estimates compiled by ‌HSBC.

HSBC announced a resumption of its share buybacks with an up to $1 ‌billion plan, the first since it took ⁠smaller ⁠Hong Kong lender Hang Seng Bank private.

The bank also announced a second interim dividend of $0.1 per share, following a $0.1 payout in May.