HSBC Holdings beat expectations with a 10 percent rise in first-half profit on Monday, driven by a strong performance in Hong Kong, and said it had agreed the sale of its unprofitable Brazilian unit.It said it had agreed to sell Banco Bradesco SA, Brazil's second-biggest private-sector bank, for a higher than expected 17.6 billion reais ($5.2 billion), as it seeks to cut underperforming businesses.Europe's biggest bank said pretax profits in the first six months of the year were $13.6 billion, up from $12.3 billion a year earlier and well above analysts' average forecast of $12.5 billion according to a poll conducted by the bank.Profits were driven by an investing frenzy in Hong Kong among individual customers amid China's soaring markets earlier in the year, the bank said.
Banco Bradesco S.A. (the Bank) is a commercial bank. Shares of BBD fell by 0.75% or $-0.06/share to $7.94. In the past year, the shares have traded as low as $7.74 and as high as $18.67. On average, 9362590 shares of BBD exchange hands on a given day and today's volume is recorded at 10966206.
Shares of BBDO traded higher by 2.54% or $0.2/share to $8.07. In the past year, the shares have traded as low as $7.57 and as high as $18.25. On average, 3792 shares of BBDO exchange hands on a given day and today's volume is recorded at 2368.