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HSBC profit rises 10 percent, bank selling Brazil unit

HSBC Holdings PLC, Europe's biggest bank, said Monday that strong performance in Asia helped to boost first-half profit by 10 percent. The bank also announced the sale of its Brazil business for $5.2 billion. Profit for the six months ending June 30 rose to $13.6 billion, or 48 cents per share, said the bank which is listed on stock exchanges in Hong Kong and London. Revenue rose 4 percent from a year earlier to $30.8 billion. "Strong revenue performance across our Asia businesses helped drive increased profits," said CEO Stuart Gulliver in a statement. Gulliver cited growth in commercial banking in Hong Kong and Britain and in wealth management in Asia. Also Monday,...

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