Monday, July 30, 2007

HSBC says profits up 13 pct, but bad debts jump

(Reuters) - LONDON, July 30 - HSBC Holdings , Europe's biggest bank, reported a 13 percent rise in first-half pretax profits as a $1 billion one-off gain helped offset a jump in bad debts linked to its problems in the U.S. housing market.



HSBC said on Monday its charge for bad debts was $6.35 billion in the six months to the end of June, up 63 percent from $3.89 billion a year earlier.


Read more at Reuters.com Market News

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