HSBC HOLDINGS (00005) Announces First Three Quarters Results: Profit After Tax of US$22.9 Billion, Up 28% Year-on-Year

HSBC HOLDINGS (00005) Announces Third Quarter 2026 Results: Revenue increased by US$800 million to US$18.6 billion compared with the third quarter of 2025, mainly reflecting growth in net interest income in Banking. Fee and other income in Corporate and Institutional Banking also rose, driven by increased client activity, with growth from Wholesale Transaction Banking and Debt and Equity Markets, while fee and other income in Wealth Management's investment product distribution business and Private Banking also grew. These increases were partly offset by valuation losses in Corporate Centre and the non-recurrence of a one-off favourable impact in the insurance business in the third quarter of 2025. Profit before tax was US$9.6 billion, an increase of US$2.3 billion, or 32%, compared with the third quarter of 2025, mainly from a net favourable impact of US$1.4 billion in notable items, reflecting the non-recurrence of a US$1.4 billion legal provision in the third quarter of 2025. The increase also reflected revenue growth, mainly from net interest income in Banking, together with a reduction in expected credit losses and other credit impairment charges (expected credit losses). Profit after tax was US$7.6 billion, an increase of US$2.1 billion, or 38%, compared with the third quarter of 2025. For the first nine months of 2026, revenue increased by US$4.5 billion to US$56.4 billion, or 9%, compared with the first nine months of 2025. Profit before tax was US$29.2 billion, an increase of US$6.0 billion, or 26%, compared with the first nine months of 2025, mainly reflecting a net favourable impact of US$3.7 billion in notable items. The increase also reflected growth in net interest income in Banking and an increase in fee and other income, driving higher revenue, mainly from Wealth Management and Wholesale Transaction Banking. Profit after tax was US$22.9 billion, an increase of US$4.9 billion, or 28%, compared with the first nine months of 2025.