HSBC profit doubles as impairment charges shrink

UK bank reports $11.1bn in pre-tax profit for first half, beating analysts' expectations

HSBC said Monday that its net profit for the first half of the year doubled on lower impairment charges and a gain on the value its own debt.

The UK-based but Asia-focused bank, however, posted a fall in investment banking profit, as market conditions deteriorated in the second quarter.

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