HSBC profit reaches $10.1 billion, buyback resumes
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- HSBC reported second-quarter pretax profit of $10.1 billion, up 60% from one year earlier.
- The bank announced a share buyback of up to $1 billion after a three-quarter pause.
- HSBC raised its 2026 banking net interest income forecast to at least $46 billion.
HSBC Holdings (NYSE:HSBC) reported second-quarter pretax profit of $10.1 billion, up 60%, and launched a $1 billion share buyback.
Net profit rose 68% to $7.69 billion, topping a $7.36 billion estimate, while pretax profit increased from $6.33 billion.
Quarterly revenue rose $2.6 billion to $19.1 billion, while expected credit losses remained at $1.1 billion.
Following the announcement, HSBC's share price was up 1.25% at $107.86, while the bank forecast 2026 banking NII of at least $46 billion.
The buyback resumes after a three-quarter pause linked to HSBC’s $14 billion privatisation of Hang Seng Bank.
HSBC has also exited or agreed to exit Australian mortgages, Singapore insurance, Egyptian retail banking and its Malta business.
