HSBC shares fall despite growth in profits

Banking giant HSBC today said first-half profits grew 10% on a year earlier to 14.1 billion US dollars (£9.2 billion) on lower bad debts and shrinking costs.

Banking giant HSBC today said first-half profits grew 10% on a year earlier to US$14.1bn (€10.6bn) on lower bad debts and shrinking costs.

But shares in the bank fell more than 2% as the earnings haul disappointed City hopes for pre-tax profits of around $14.5bn (€10.9 bn).