Caroline ZhengHSBC has announced a fresh share buyback program of US$2 billion (HK$15.6 billion) and raised its earning guidance after seeing its interim pretax profit soar nearly 150 percent to US$21.7 billion. HSBC will also repurchase an additional US$2 billion following a previous buyback program revealed three months ago. The better-than-expected results came as Quinn believes that the debate over a potential split of HSBC is over. Quinn noted that HSBC has been offering fair and appropriate products to customers, whether they are mortgage or saving products. On possible investments, Quinn said HSBC will be open-minded to do further bolt-on acquisitions after the lender recently acquired the UK arm of collapsed Silicon Valley Bank.
