HSBC half-year net profit jumps 22%

Global banking giant HSBC has announced a 22-percent increase in half-year net profits to $10.28 billion (7.73 billion euros) on lower costs and falling bad-debt charges. (AFP)

LONDON (AFP) – Global banking giant HSBC announced on Monday a 22-percent increase in half-year net profits to $10.28 billion (7.73 billion euros) on lower costs and falling bad-debt charges.

"These results confirm the value which is being delivered from the continuing reshaping of the group and from enforcing appropriate cost discipline," chairman Douglas Flint said in the British bank's earnings statement.