HSBC H1 net profit up 22 pct: media

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Banking giant HSBC Holdings said its net profit in the first half year rose 22 percent year on year to 10.28 billion U.S. dollars driven by falls on costs and bad-debt, media reports said Monday.

The performance was result from the "continuing reshaping of the group" and from "enforcing appropriate cost discipline," Group Chairman of HSBC Holdings Douglas Flint was quoted as saying in the British bank's earnings statement.

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• Inequality grinding the gears of growth engine
• HSBC's PMI for May drops to 8-month low
• Scope for aspirations if jobs can be created
• Fears grow over recovery as China factory activity shrinks
• China's manufacturing slows to 7-month low: HSBC
• HSBC Q1 profits almost double after restructuring
• China's manufacturing growth slows: HSBC
• Bankcomm, HSBC partner on cross-border RMB business

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