HSBC doubled their profit

HSBC double their net profits more than in $6.76 billion in the first half of 2010. The British group announced the results recently. They focus on building a high quality asset base for the future, which is encouraging that loan impairment charges now stand at their lowest levels since the start of the financial crisis of the World. This year they want to reach $7.5 billion approximately. It reflects the benefit of more stable economic conditions for many customers and follows their actions. HSBC also revealed that pre-tax profits more than doubled to $11.1 billion in the first half. They grew loans and advances to customers in all regions and by four per cent overall, compared with the end of 2009. Geographically, the strongest growth was in Asia, where they grew lending by 15 per cent. HSBC, born in Hong Kong and Shanghai in 1865 and best ever Asian banking giant. The bank said that across Asia, pre-tax profits increased by 20 per cent to $5.6 billion in the first half.