HSBC unveils 26% rise in profits

The HSBC has shrugged off the impact of the Iraq war and SARS on its business and unveiled a 26% rise in first half pre-tax profits.

Following its £8.3bn (€11.8bn) purchase of US consumer finance unit Household, HSBC said it would be looking to tap into the overlooked market opportunity of providing banking for the immigrant population in the US.