SBC has reported “strong” pre-tax earnings of 21.7 billion US {dollars} (£16.9 billion) for the primary half of 2023.

The group stated revenue earlier than tax rose by 12.9 billion US {dollars} (£10.1 billion) in comparison with the identical interval final yr.

HSBC’s income additionally elevated by 12.3 billion US {dollars} (£9.6 billion) to 36.9 billion US {dollars} (£28.8 billion), with the corporate highlighting rate of interest rises as a driving issue within the consequence.

There remains to be a lot work to do, particularly given the various challenges within the international economic system, however I'm assured in regards to the future

Noel Quinn, HSBC’s group chief government, stated in an announcement: “We have delivered a strong first-half performance and are confident of achieving our revised mid-teens return on tangible equity target in 2023 and 2024.

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“There was good broad-based profit generation around the world, higher revenue in our global businesses driven by strong net interest income, and continued tight cost control.

“I am also pleased that we can reward our shareholders with a second interim dividend of 0.10 US dollars per share and a second share buy-back in 2023 of up to 2 billion US dollars, with substantial further distribution capacity still expected ahead.

“There is still much work to do, especially given the many challenges in the global economy, but I am confident about the future as we move further into the next phase of our strategy and focus on opportunities to drive value creation, diversify our revenue and retain tight cost control.”

In its interim outcomes assertion, the group stated it has raised its “2023 full-year guidance for net interest income to above 35 billion US dollars” (£27.3 billion) within the wake of “current market consensus for global central bank rates”.

HSBC’s quarterly outcomes included pre-tax earnings of 8.8 billion US {dollars} (£6.9 billion) and 16.7 billion US {dollars} (£13.3 billion) in income.