HSBC's return on ordinary shareholders' equity was 12% during the first half, increasing from 10.5% a year earlier.
The company said its Basel III Tier 1 common equity ratio was 10.1% as of June 30, leaving it "well positioned with respect to the implementation of Basel III capital standards."
HSBC's shares closed at $57.97 Friday, returning 12% this year, following a 46% return during 2012. The shares trade for 11.9 times the consensus 2014 earnings estimate of $4.87 a share, among analysts polled by Thomson Reuters. The consensus 2013 EPS estimate is $6.10.
Despite the company's success in growing earnings while lowering expenses, Bank of America Merrill Lynch analyst Alistair Scarff on Monday reiterated his neutral rating on HSBC in a note to clients."There is nothing we can see in
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