Noel Quinn | Group CEO |
Ewen Stevenson | Group CFO |
Martin Leitgeb | Goldman Sachs |
Raul Sinha | JPMorgan |
Tom Rayner | Numis |
Omar Keenan | Crédit Suisse |
Aman Rakkar | Barclays |
Andrew Coombs | Citi |
Guy Stebbings | Exane BNP Paribas |
Manus Costello | Autonomous |
Good morning in London, and good afternoon in Hong Kong. I've got Ewen with me today, and I'll hand over to him shortly to go through the detail of our Q2 performance.
First, though, I'll start with a summary of the key highlights, our progress against our transformation plans, and in particular, what we're seeing with respect to growth.
For the second quarter, a good operating performance, supported by a net release of expected credit losses delivered reported pretax profits of $5.1 billion, up $4 billion on last year's second quarter. We saw a return to profitability in all our regions in the first half, including good performances in both Europe and the U.S.