HSBC reported a strong rebound in second-quarter 2026 earnings, with profit before tax rising 60% quarter-on-quarter to US$10.1 billion, driven by stronger banking net interest income (NII), higher wealth management and wholesale transaction banking (WTB) fees, and a US$2.6 billion favourable impact from notable items. Profit after tax increased 63% to US$7.9 billion, while revenue climbed to US$19.1 billion.
Revenue still rose to US$19 billion, supported by increased customer activity across its International Wealth and Premier Banking (IWPB), Hong Kong, Debt and Equity Markets, and Commercial and Institutional Banking (CIB) businesses.
This pushed up the group’s first half year performance, with profit after tax up 23% to US$15.3 billion. Revenue grew 11% to US$37.7 billion, supported by stronger customer activity in its International Wealth and Premier Banking (IWPB) and Hong Kong businesses, higher banking NII, favourable foreign exchange translation, and a one-off property disposal gain.
“HSBC is becoming the stronger bank we set out to build. We are executing our strategic priorities with pace, precision and discipline. This is allowing our four businesses to focus on their core strengths, grow, work together more effectively and deepen customer relationships. The result is a bank capable of achieving more,” said Georges Elhedery, HSBC Group CEO.
HSBC reaffirmed its medium-term financial guidance, maintaining its target of delivering a return on average tangible equity (RoTE) of at least 17% for 2026 through 2028. The bank also expects year-on-year revenue growth throughout the period on a constant currency basis, excluding notable items, with growth accelerating to 5% in 2028 compared with 2027.
