HSBC on Tuesday reported that its pre-tax profit for the first half of this year had reached US$21.7 billion. The figure was up by US$12.9 billion from a year earlier, amid rising interest rates.

This included a reversal of an impairment relating to the planned sale of its retail banking operations in France, and a provisional gain on the acquisition of Silicon Valley Bank UK, the company said.

“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,” said Noel Quinn, group chief executive.

(Xinhua)