HSBC, Europe's largest bank, said its adjusted second-quarter profit doubled from a year earlier to $5.56 billion, beating analyst estimates of $5.56 billion. 4.73 billion dollars.

The London-based bank has also cut its provision for bad debts, saying the global economy is beginning to emerge from the worst effects of the pandemic, according to a statement issued on Monday. .

The improved credit outlook prompted the bank to pass an interim dividend of 7 cents per share, after the Bank of England removed limits on cash payments last month.

The bank said it expects to meet its target of paying 40% to 55% of profits in dividends this year.

In April, the bank began releasing provisions for credit that had accrued in the early stages of the pandemic, saying the outlook for UK borrowers in particular was improving after More than a year of disruption caused by the Corona epidemic.

CFO Ewen Stephenson told Bloomberg TV, "We definitely feel more confident... we'll keep buybacks under review along with the dividend."

The bank's shares have jumped 3.6% in early trading in Hong Kong, while they have gained 9.5% this year.