HSBC’s global private banking and wealth management businesses both experienced positive growth in terms of pre-tax profits and revenues during the first half of 2019, according to its latest interim report.

HSBC Global Private Banking (GPB) reported adjusted pre-tax profits of $196 million for the year to 30 June 2019, a $9 million or 5.0 percent increase on the $187 million reported for the corresponding period in 2018.

Wealth management, a component of HSBC’s Retail Banking and Wealth Management (RBWM) division, reported adjusted pre-tax profits of $1.389 billion, a $960 million or 44.7 percent improvement compar...