The UK bank’s wealth revenue grew by 12% in H1 2024, partly driven by structured products in Asia. Its US sales increased 50%.

HSBC has reported stable earnings for the first half of 2024, with pre-tax profit unchanged at US$21.6 billion and net profit down two percent to US$17.7 billion year-on-year (YoY), according to the bank’s latest interim reports.  Revenue rose by US$0.4 billion or one percent to US$37.3 billion compared with H1 2023. Operating expenses of US$16.3 billion were US$0.8 billion or five percent higher YoY, mainly due to higher technology spend and investment, inflationary pressures and an

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