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* HSBC releases H1 results at 0815 GMT on Monday
* Analysts forecast $14.6 bln pretax profit
* Costs, bad debts set to fall, offsetting drop in revenue
* Standard Chartered set for solid H1 profit on Tuesday
LONDON, Aug 5 (Reuters) - HSBC's half-year profitis set to rise 15 percent to more than $14 billion as athree-year cost cutting plan starts to pay off and lower baddebts compensate for a fall in revenue at Europe's biggest bank.
The results, due to be released on Monday, are likely tolack the drama of British rivals last week - a rights issue atBarclays, a new chief executive at RBS and theprospect of a swift government sale of shares in Lloyds.
Instead, HSBC will show how cutting costs andrestructuring is essential for an industry struggling to grow.
Chief Executive Stuart Gulliver said in May he will redoublehis efforts to drive down costs and could cut 14,000 more jobsas part of his push to lift profitability and streamline thecomplex bank.
Europe's biggest bank by market value is expected to reportpretax profit of $14.6 billion in the six months to the end ofJune, up from $12.7 billion a year ago, according to the averageforecast 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 2billion pounds, or 43 percent, to $2.7 billion. Operating costsare forecast to fall 12 percent to $18.6 billion, driving therise in profit.
Gulliver, who is two and a half years into hiscost-reduction drive, had cut 46,000 jobs by May and sold orclosed 52 businesses. He is expected to continue to retreat fromcountries where HSBC lacks scale.
The bank said in May that employee numbers could fall tobetween 240,000 and 250,000 by 2016.
Gulliver is expected to remain upbeat on dividend prospects,given the bank's strong capital position and earningsgeneration.
A pledge in May to pay 40-60 percent of profit in dividendslifted HSBC's shares, and investors are keen for further clueson how generous the payout will be.
Standard Chartered , another London-basedbank with strong businesses in Asia, is expected to say onTuesday it remains on course for a full-year profit of about $8billion, after recovering from a weak first quarter.
The bank last month brushed off fears that a slowdown inChina's economy would hit its growth and said annual profitshould grow at just short of its 10 percent annual target aftera decent second quarter.
