Chief Executive Stuart Gulliver said in May he will redouble his efforts to drive down costs and could cut 14,000 more jobs as part of his push to lift profitability and streamline the complex bank. Europe's biggest bank by market value is expected to report pretax profit of $14.6 billion in the six months to the end of June, up from $12.7 billion a year ago, according to the average forecast of 14 analysts polled by the company. Revenues are expected to fall 6 percent to $34.8 billion, but that will be offset by a drop in losses from bad loans of 2 billion pounds, or 43 percent, to $2.7 billion. Operating costs are forecast to fall 12 percent to $18.6 billion, driving the rise in profit.
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