HSBC reports narrow first-half profit decline, beats expectations

"We are growing and investing in our international retail and wealth business to sit alongside this, which is helping to diversify revenue," HSBC's outgoing CEO Noel Quinn said Wednesday. The bank posted pretax profit in the six months to June of $21.56 billion, down from $21.66 billion in the same period of last year. The first-half figure nevertheless came in well above the $20.5 billion average of broker estimates compiled by HSBC, according to Reuters. This breaking news story is being updated. Europe's ...