HSBC sets $1 billion buyback after profit beats forecast
HSBC said stronger lending and wealth fees lifted first-half profit 23% and helped support a resumption of capital returns.
- On Tuesday, HSBC Holdings reported a better-than-expected first-half pre-tax profit of $19.5 billion, up 23% from $15.8 billion a year earlier, while announcing an up to $1 billion share buyback.
- CEO Georges Elhedery continues his strategy of streamlining the lender by exiting markets where it lacks scale, selling its Singapore insurance, Egypt retail banking, and Australian mortgage businesses.
- Wealth revenue grew 18% in the first half backed by strong growth in Asian markets, while second-quarter pre-tax profit reached $10.1 billion, exceeding analyst estimates on higher banking fees.
- The bank set a second Interim dividend of $0.1 per share, launching its first share buyback plan since the late last year privatization of Hong Kong lender Hang Seng Bank.
- Strong earnings across Europe extend a two-year-long recovery driven by a surge in trading activity and resilient interest income, persisting despite recent dips in central bank rates.
33 Articles
33 Articles
HSBC increases its pre-tax profit by 23 percent in the first half of the year. However, the announced share buyback program of one billion dollars is not as large as expected.
HSBC beats H1 profit forecasts, resumes share buybacks and raises income guidance
Hong Kong/London: HSBC Holdings reported stronger-than-expected first-half earnings and resumed share buybacks after a three-quarter pause, as growth in lending and wealth management helped Europe's largest bank benefit from strong business activity across its key Asian markets.The bank posted pre-tax profit of $19.5 billion for the first six months of 2026, up 23% from $15.8 billion a year earlier and ahead of analysts' forecasts of $18.9 billi…
HSBC resumes buyback after big profit jump in first half of 2026
British Banking giant HSBC said Tuesday it would buy back up to US$1 billion of shares after a big jump in profits in the first half of 2026. The jump in profits was due to “growth in banking net interest income and higher fee and other income”, HSBC said in its earnings report, adding that […]
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