On July 31st, HSBC Holdings released its 2024 interim performance report, which showed that in the first half of the year, HSBC Holdings achieved a pre tax profit of 21.6 billion US dollars, which was overall stable compared to the same period last year; After tax profit of 17.7 billion US dollars, a decrease of 400 million US dollars or 2% compared to the same period last year; Revenue increased by 1% to 37.3 billion US dollars; The net interest yield was 1.62%, a decrease of 8 basis points from the first half of last year.
HSBC Group CEO Qi Yaonian stated that after achieving a new high in profit performance in 2023, HSBC Holdings' financial performance remained strong in the first half of this year, reflecting the group's achievements in strategy execution and revenue diversification over the past five years. The new guideline we propose is that the average tangible return on equity (excluding the impact of projects that need to be noted) by 2025 should be around 15%
The announcement also shows that after completing the $3 billion share buyback specified in the first quarter performance announcement, HSBC announced today that it will carry out up to $3 billion more share buybacks, expected to be completed within three months.