HSBC reports first-half profit rises 4.6 percent

Reuters  |  HONG KONG/LONDON 

HONG KONG/(Reuters) - Holdings Plc said on Monday its pretax profit rose 4.6 percent for the first half of the year, as Europe's biggest showed early progress in its strategy of returning to growth mode after years of restructuring.

reported a pretax profit of $10.7 billion in the six months through June, up from $10.2 billion in the same period a year earlier.

In June, John Flint, HSBC's group chief executive, set out a three-year plan to invest $15 billion-$17 billion in areas such as technology and in China, as part of the bank's swing from a strategy of cost-cutting to one of growth.

(Reporting by and Lawrence White; Editing by Muralikumar Anantharaman)

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First Published: Mon, August 06 2018. 10:05 IST