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HSBC May Increase Bankers' Bonus Pool if Performance Stays Strong

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HSBC (HKG:0005) could increase its bonus pool for bankers if strong business performance continues through the second half of the year, Bloomberg reported Tuesday, citing Chief Executive Officer Georges Elhedery.

The company would consider raising the variable pay pool should current momentum continue, Elhedery said speaking at the second-quarter earnings call, the report noted. The bonus pool accounts for about 10% of the bank's total costs, meaning any increase would have only a "modest" impact on overall expenses, Elhedery noted.

"We have seen strong business performance, strong momentum, and growth across all our lines of business", HSBC CEO toldin an emailed response. "Should we continue to see this momentum carry forward into the second half, then we would certainly consider to reward our colleagues for their increased performance by adjusting the variable pay pool upwards."

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