Key facts
- HSBC reported a 23% increase in pretax profit for the first half of 2026, reaching $19.5 billion.
- The profit growth was primarily fueled by robust money flows and fee earnings from its wealth management business, particularly in Asia.
- The bank announced a share buyback program of up to $1 billion.
- HSBC raised its full-year net interest income guidance to exceed $46 billion.
- The bank's Hong Kong-listed shares rose 0.8% to a new high of HK$169.5.
HSBC Holdings reported a better-than-expected first-half profit of $19.5 billion, a 23% increase from the previous year, driven by robust money flows and fee earnings from its wealth management business, particularly in Asia. The bank also announced plans to buy back up to $1 billion in shares and raised its full-year net interest income guidance to exceed $46 billion. The strong performance reflects the payoff of HSBC's Asian focus and a market overhaul targeting wealth and cross-border banking, which boosted fee income alongside a favorable rate backdrop. This result contributes to a strong earnings season for European banks, which have benefited from increased trading activity and resilient interest income. HSBC's strategy of streamlining by exiting markets where it lacks scale continues, with recent sales including its Singapore insurance, Egypt retail banking, and Australian mortgage businesses. Wealth revenue in the first half grew 18% year-on-year, supported by strong growth from its Asian markets. The bank's Hong Kong-listed shares gained 0.8% to HK$169.5 following the earnings release, reaching a new high. HSBC also declared an interim dividend of $0.10 per share.