HSBC Holdings reported a slight 0.4% decline in first-half profit but still exceeded analyst estimates, driven by higher global interest rates and robust growth in its wealth business. Europe’s largest bank posted a pretax profit of USD21.6bn for the first six months, compared to USD21.7bn a year earlier, surpassing the USD20.5bn average estimate. The bank expressed confidence in its strategy to grow revenue even in a lower interest rate environment. HSBC issued new guidance for a mid-teens return on average tangible equity by 2025, extending its previous target set for 2024.