HSBC's H1 Profit Doubles to $6.76Bln

»HSBC Holdings PLC said Monday its net profit for the first half of the year doubled as it reduced impairment charges and booked a gain on the value of its debt.

»First half net profit rose to 6.76 billion U.S. dollars from 3.35 billion U.S. dollars from the same period of last year. Profit before tax for the first six months stood at 11.1 billion U.S. dollars, doubling from the 5.02 billion U.S. dollars last year and beating expectations of 9.3 billion. Losses on bad loans tumbled to 7.5 billion U.S. dollars from the previous 13.9 billion.