HSBC published its 2015 interim results this morning revealing a 6.8 per cent drop in profitability to €23.9 million during the first six months of 2015.
The improvement achieved on the income side, largely relating to lower interest expense and the fees generated from the newly transferred insurance portfolio, was offset by higher costs (mainly linked to regulatory and compliance factors) as well as increased impairment charges.
The bank declared a gross interim dividend of 5c1 per share (to all shareholders as at the close of trading on August 12) representing a 25.9 per cent increase over the adjusted interim gross dividend declared with respect to the first six months of 2014.
The difference in dividend is attributable to a lower charge in connection with the general banking risk reserve as per the revised banking rule 09.
On the secondary market, the bank’s share price edged 1.6 per cent higher to regain the €1.82 level across 13 deals totalling 52,000 shares. The uplift in the bank’s share price helped the share index extend its recent positive run with a further 0.3 per cent increase to 4,219.479 points.
Malita Investments also performed positively with a 1.1 per cent...
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