Wednesday 23 August 2017

Jump in HSBC shares on back of Asia lending

HSBC shares gained 4pc to 671 pence each early yesterday afternoon. Photo: PA
HSBC shares gained 4pc to 671 pence each early yesterday afternoon. Photo: PA

Stephen Morris

HSBC shares rose the most in five months as the bank reported a surprise jump in revenue boosted by loan growth in Asia.

Trading revenue jumped 29pc, exceeding the average 9pc rise at nine of the largest global investment banks, data from Bloomberg Intelligence shows.

HSBC shares gained 4pc to 671 pence each early yesterday afternoon.

The bank has hired 1,800 extra compliance staff since the start of the year, raising its total to more than 6,000 worldwide, as the firm strives to improve its anti-financial crime capabilities to comply with the demands of the US Department of Justice. (Bloomberg)

Irish Independent

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