HSBC has increased its bankers’ bonus pool and announced fresh shareholder payouts after profits grew more than fourfold in the second quarter, thanks to an economic rebound in key markets, including the UK. Its top bankers will have another six months to increase the bonus pool even further before it is paid out next spring. Last year, HSBC paid 324 of its bankers more than €1m (£854,000), including bonuses, while eight received more than €5m. “The UK economy has rebounded strongly in the first half of this year,” Quinn said. In the UK, Quinn said HSBC experienced a record quarter for mortgages, with lending having grown a total of 9%, or $5.1bn, since June last year.

Source: The Guardian August 02, 2021 08:11 UTC