HSBC Holdings posted a pretax profit of $10.1 billion for the second quarter. This result marks a 60% increase over the previous year. The profit exceeded analyst forecasts of $9.5 billion.
Net profit after tax reached $7.9 billion for the quarter ending June 30. Rising net interest income and wealth management fees drove the growth. Transaction banking divisions also contributed to the higher income.
HSBC will launch a new share buyback program worth up to $1 billion. The bank also declared a second interim dividend of $0.10 per share.