Capital-rich HSBC keeps on giving

One of the biggest attractions for investors in HSBC (HSBA) is its superior income status, particularly when compared with its UK-listed banking peers. With that in mind, it is unsurprising that shareholders reacted positively to these first-half results. The banking giant increased its common equity tier-one ratio – as a proportion of risk-weighted assets – to 14.7 per cent, from 13.6 per cent at the end of December. That more comfortable capital position prompted management to recommend a further buyback of up to $2bn (£1.5bn) shares during the second half of the year, meaning it will have bought back $5.5bn shares since August 2016.