HSBC chief says ‘UK growth needs strong banks’ after profits swell by 23%

ShareAction will challenge HSBC at its AGM in London on Friday (Alamy/PA) -

The boss of HSBC has said that “UK growth needs strong banks” after saying its profits soared by nearly a quarter this year and amid calls for the Government to raise taxes on bank earnings.

HSBC recorded a pre-tax profit of 19.5 billion US dollars (£14.5 billion) for the first six months of the year.