HSBC to pay some UK staff 1500 pounds to combat cost of living crisis -memo

LONDON (Reuters) – HSBC will pay some of its British workforce a one-off payment of 1500 pounds ($1,830) to help deal with the cost of living crisis, according to a memo seen by Reuters on Monday.

In doing so the bank became the latest British lender to offer staff pay boosts, as the country grapples with inflation levels not seen in 40 years.

The bank earlier on Monday reported better than expected profits and raised its outlook for returns, as rising interest rates lift its revenues.

($1 = 0.8195 pounds)

(Reporting By Lawrence White, editing by Iain Withers)