Banking giant HSBC today set a new European record for half-year earnings after profits rose 53% to £5.14 billion in the first six months of 2004.
The improvement, which was ahead of market expectations, reflects a full contribution from Household, the US consumer finance arm it acquired in 2003.
In Europe, where HSBC generates around a third of its earnings, profits before exceptional items stood at £1.68 billion for the half-year.
In the UK, HSBC said it had bolstered its presence in the UK mortgage market with record sales and 18% growth in balances.
