EarningsQ2 2026 Earnings Report
MX:HBCN Q2 2026 EPS Results
Actual EPS$40.90
Consensus EPS$40.34
Beat/MissBeat by +$0.56
One Year Ago EPS$35.45
MX:HBCN Q2 2026 Revenue Results
Actual Revenue$721.82B
Expected Revenue$339.19B
Beat/MissBeat by +$382.62B
YoY Revenue Growth+5.62%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
MX:HBCN Upcoming Earnings
HSBC Holdings's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:HBCN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented broad-based operational momentum: double-digit profit growth, high quarterly and half-year returns on tangible equity, strong deposit and loan inflows, notable Wealth net new money and an upgraded NII outlook. Management reinforced cost discipline while increasing simplification savings and re‑allocating resources into core, high-return franchises; they reinstated a modest buyback and maintained a 50% dividend payout target. Headwinds include a meaningful quarterly ECL charge (including Hong Kong CRE Stage 3 items), small pockets of mid‑market credit stress, transient large wholesale deposit inflows, and exposure to HIBOR/FX volatility which underpins a cautious NII guidance. Overall, positives (growth, returns, capital strength, wealth and trade momentum, cost saves) materially outweigh the manageable credit and market risks highlighted.Company Guidance
Revenue and Profit Growth
Group revenue grew 7% year-on-year to USD 19.0bn in Q2; profit before tax rose 13% YoY to USD 10.3bn. First half group revenues and profits before tax each increased 6% YoY. Annualised return on tangible equity was 19.5% for the quarter and 19.1% for the first half.
Strong Deposit and Loan Expansion
Deposit franchise grew by USD 46bn in Q2 and USD 129bn in H1 (approximately 8% YoY), raising the deposit base to USD 1.8tn. Loans increased by USD 20bn in Q2 and USD 55bn in H1 (about 6% YoY). CIB deposits were up 16% YoY.
Wealth Management Momentum and Net New Money
Wealth balances in Asia total USD 1.1tn; Hong Kong Wealth balances grew 10% YoY to USD 0.5tn. Global net new money was USD 64bn in H1 (Asia USD 57bn, +32% YoY); Q2 net new money was USD 25bn (USD 22bn from Asia). Wealth fee and other income rose ~18% YoY for the half (Pam reported Q2 Wealth fee & other income +21% to USD 2.8bn; H1 Wealth fee & other income USD 5.5bn, +18%).
Banking NII Strength and Guidance Upgrade
Banking net interest income increased by USD 0.8bn YoY to USD 11.6bn in the quarter. Management upgraded full-year Banking NII guidance to at least USD 46bn, citing deposit and loan growth, supportive rates and reinvestment of maturing structural hedge assets.
Wholesale Transaction Banking and Trade Leadership
Wholesale Transaction Banking fee and other income accelerated (Pam: +7% YoY) with trade balances up 29% YoY. Security services grew 16%, payments +6% and FX +5%. Cross-border client revenue in CIB rose ~15% YoY.
Capital Position and Shareholder Returns
CET1 ratio increased to 14.1% (up 10bps quarter-on-quarter) after supporting USD 20bn of loan growth. Management reinstated share buybacks up to USD 1bn and declared a USD 0.10 quarterly interim dividend (USD 0.20 for H1), targeting a 50% payout ratio for 2026 (excluding material notable items).
Cost Discipline and Increased Simplification Savings
Reported cost growth was ~1% YoY in Q2 and management remains on track to target ~1% cost growth for 2026. Organizational simplification savings target was raised from USD 1.5bn to USD 2.0bn, with ~USD 1.7bn of action saves achieved; about 50% of planned nonstrategic application demises completed and 15 business/market exits announced since 2025.
Hang Seng Privatization Synergies and Hong Kong Momentum
Privatization of Hang Seng Bank is already delivering operational benefits (e.g., Hang Seng nearly doubled new customer acquisitions quarter-on-quarter to ~60,000 after adopting HSBC digital onboarding). Management targets roughly USD 900m of synergies/related benefits over ~3 years (USD 500m reported synergies + USD 400m related).
MX:HBCN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed