Europe's biggest bank records 5 percent jump in profit, announces buyback

HSBC has posted a five percent in first half profit to 10 point 2 billion dollars, beating expectations.
 
Europe's biggest bank also announced a two billion dollar share buyback. The third such move in a year should be completed by the end of 2017 and will take the total of share buybacks in the last 12 months to above $5 billion.
 
It is intended to offset the impact of the lender's dividend payouts. 
 

 
HSBC's capital position looks relatively robust with a Common Equity Tier 1 ratio of 14.7 percent.
Europe's biggest bank records 5 percent jump in profit, announces buyback Europe's biggest bank records 5 percent jump in profit, announces buyback Reviewed by Alexander Von Stern on 22:38:00 Rating: 5