The bank has set aside $1.3bn to compensate the UK miss-selling insurance risk and $700m for penalties imposed by the US regulator following the money laundering accusations.
For the first six month period, the bank’s total operating income stood at $43.67bn, up by 3% compared to $42.31bn during the same period of 2012 while it posted net operating income before loan impairment charges and other credit risk provisions of $36.89bn, with an increase of 3% from $35.69m.
Profit attributable to ordinary shareholders of the parent company for the first six month ended 30 June 2012, was $8.15bn, down by 9% from $8.929bn during the first half of 2011.
HSBC chief executive Stuart Gulliver said the bank’s performance has been affected by provisions for UK customer redress programmes and certain US law enforcement and regulatory matters, and its conduct had come under close scrutiny.
"We recognise that in the past we have on occasions failed to live up to the expectations of regulators, customers, and the communities in which we operate," Gulliver added.
