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 […]
British banking company HSBC has announced its intention to resume share buybacks following a substantial increase in profits during the first half of 2026. The bank reported a notable rise in earnings, attributed to increased net interest income and higher fee and other income. In its earnings report, HSBC disclosed that its banking profit surged by US$1.4 billion, marking a 27 percent increase in profit attributable to shareholders to US$14.6 billion.
CEO Georges Elhedery expressed satisfaction with the bank's strategic progress, stating, "HSBC is becoming the stronger bank we set out to build. We are executing our strategic priorities with pace, precision and discipline."
The company's board approved a second interim dividend of US$0.10 per share, alongside the share buyback plan, which could amount to up to US$1 billion by the end of the third quarter of 2026. Despite this positive outlook, HSBC also faced challenges, including expected credit losses of US$2.4 billion and a fraud case resulting in US$400 million in losses, in addition to US$200 million in losses from Hong Kong's commercial property sector.
The bank has been undergoing a global restructuring under CEO Elhedery's leadership, focusing on core markets and divesting non-core business units. HSBC's share price has recently reached an all-time high, trading above HK$160 in Hong Kong markets.
Written by urgent.news from Hong Kong Free Press's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
