HSBC Holdings (0005) released first quarter financial results with a net interest income of 8.9 billion US dollars, an 8% increase year-on-year.

HSBC Holdings (00005) released its first quarter profit for 2026, with revenue of $18.6 billion under accrual basis, an increase of 6% year-on-year; net interest income of $8.9 billion, an increase of 8% year-on-year; post-tax profit of $7.394 billion, a decrease of 2% year-on-year; basic earnings per share of $0.41. The announcement stated that the increase in revenue mainly reflects significant growth in wealth management fees and other income in the International Wealth Management and Premier Banking division and the Wealth Management business under the Hong Kong business division, supported by increased client activities. The increase also includes a one-time gain of $2 billion from the sale of property assets, as well as an increase in net interest income from banking operations. However, the impact of items on a yearly basis (mainly related to business sales) offset some of the increases. The main reasons for the increase in net interest income are growth in deposit balances, benefits from structural hedging for reinvestment at higher yields, and the impact of lower market interest rates on the re-allocation of funds to trading balances. However, the increase in trading balance offset some of the increases. Net interest income from banking operations, excluding the cost of funds related to trading balances (which remained roughly the same), increased by $700 million to $11.3 billion. Chief Executive Officer of the Group, Aiqiao Zhi, stated: "We are committed to transforming HSBC into a financially sound, agile and continuously growing financial institution, and we continue to make positive progress in this regard. All four of the Group's businesses contributed to overall revenue growth, with an average tangible return on equity exceeding 17% annually, excluding the impact of items to be noted. In a period of heightened uncertainty, customers increasingly view HSBC as a trusted partner, capable of assisting them in navigating complex and changing circumstances with reliable financial strength, stable performance, and professional knowledge. We remain confident that the targets set in February 2026 by the Group can be achieved."