HSBC Holdings PLC on Monday said profit grew 5 percent in the six months through June and announced its third share buyback in a year, indicating continued progress in the six-year turnaround plan of Europe's biggest bank. HSBC, like many global banks, spent the years up to the 2008 financial crisis expanding its empire with a string of acquisitions. Recent years have seen it cut jobs and sell assets worldwide to shrink the group back to profitability and maintain dividend payouts in an era of stricterc. The bank's Chief Executive Officer Stuart Gulliver and Chairman ...
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HSBC profit rise by 5%, announces $2 billion share buyback
The buyback will take the total of HSBC share buybacks since the second half of 2016 to $5.5 billion
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Hsbc Bank
Reuters |
First Published: Mon, July 31 2017. 14:07 IST
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