HSBC (LON:HSBA) upped underlying interim profits by a better than forecast 10% as its Asian businesses picked up offsetting a further US1bn fines provision.
Brokers also welcomed the sale of its operation in Brazil to local bank Bradesco for US$5.2bn, a deal flagged at the weekend.
Detailed work has started meanwhile on whether HSBC remains based in the UK or shift its domicile, the bank added.
Keith Bowman, Equity Analyst at Hargreaves Lansdown Stockbrokers said: “The bank’s results have surprised to the upside, whilst the price achieved for the sale of its Brazilian business has exceeded forecast.
“Trading and Wealth management activity in relation to Hong Kong and China has played its part, with reduced loan impairment charges, particularly in relation to North and Latin America, also contributing. “
On the downside, the bank reported higher provisions [US$1.1bn] for the ongoing foreign exchange trading investigations and higher operating expenses.
Expenses rose 7% to $17.6bn reflecting investment, regulatory programmes and compliance costs.
For the half year to June, pre-tax profits rose to US$13.6bn (US$12.3bn), with a 2% rise on an adjusted basis.
Revenue rose 4% US$30.8bn, with growthin global banking and equities and foreign exchange.
The Brazil sale is part of a restructuring of the giant bank to boost its returns. Last month it announced 8,000 job cuts, with its Turkey operation earmarked for disposal alongside Brazil at that time.
Shares edged higher to 584p.