Calls for bank tax to be increased as HSBC reports £14billion profit

Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleA branch of HSBC (Alamy/PA) (PA)HSBC reported a 23 per cent surge in pre-tax profits for the first half of the year, reaching $19.5 billion (£14.5 billion). The bank announced a $1 billion share buyback programme and a second interim dividend, though the buyback was less than anticipated by experts. This growth was primarily driven by higher net interest income and increased fee income, particularly from wealth management and its focus on Asian markets. The Trades Union Congress (TUC) called for the government to increase taxes on banks, including HSBC, to fund a social tariff that would lower energy bills for low and middle-income households. The TUC highlighted the recent reduction of the bank surcharge from 8 per cent to 3 per cent and urged for it to be increased to raise up to £60 billion over the next four years. In fullHSBC launches $1 billion share buyback after profits surge leads to calls for bigger bank taxesMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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