Underlying profit before tax stood at $13.1bn, up by 47% compared to the first half of 2012, due to higher revenues, lower loan impairment charges and lower costs.

For the first half ended on 30 June 2013, its revenue fell by 7% to $34.4bn compared to $36.89bn during the same period earlier year, due to subdued growth in western economics as well as China and Asia.

HSBC chief executive Stuart Gulliver said, "These results demonstrate that we have continued to make progress on delivering our strategy."

The firm has announced a further 11 disposals or closures of non-strategic businesses since the beginning of 2013, bringing the total number of transactions announced from 2011 to 54.

As at 30 June 2013, the core tier 1 ratio and common equity tier 1 ratio for the group remained strong at 12.7% and 10.1%, respectively.

Operating across 80 nations and regions, the bank has a strong market shares across the faster-growing markets, and it is well positioned to benefit from the long-term trends in the global economy.