HSBC Pledges to Restore Pre-Covid Dividends as Profit Jumps

Global banking giant HSBC Holdings PLC said it would resume paying full dividends to investors as early as next year and warned that its top shareholder’s push to split up the company would jeopardize profit and growth.

Profit at the London-based lender rose 62% in the second quarter from a year earlier to $5.5 billion, the company said Monday. The bank said it received a boost from rising interest rates worldwide, which have increased the money the bank earns on loans to businesses and consumers.

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HSBC rejects demerger of Asian business, citing huge risksHSBC said on Monday a demerger or spinoff of its Asian business risks huge one-off execution costs, higher taxes and ongoing running costs for the bank, in its most detailed rebuttal yet to calls from its largest shareholder to break up the bank.
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