HSBC earnings: results of 27 October 2026

HSBC's third quarter of 2026: income from lending and fees grew about 4% without one-offs, and profit before tax rose 10% on that basis, helped by lower costs and smaller loan-loss charges. The quarter was a little weaker than the second, though, and HSBC kept its main forecast for the year unchanged. ¹

Against what analysts expected

The one analyst forecast we found, $2.13 per share on Nasdaq's earnings calendar, is not on the same basis as HSBC's own $0.41 per ordinary share, so we do not set the two side by side. ¹²

The strong points

• Leaving out one-off items, profit before tax rose 10% from a year ago to about $10.0bn. ¹
• Revenue, a bank's income from lending and fees, grew 4% from a year ago without one-offs, mostly from more interest earned. ¹
• What HSBC set aside for loans that may not be repaid fell 17% from a year ago. ¹

The weak points

• Against the previous quarter, profit before tax slipped to $9.6bn, from $10.1bn. ¹
• Losses on the bonds HSBC holds for safety and liquidity grew sharply, with those it holds to maturity showing an unrecognised loss of $7.0bn. ¹

What the company expects

• HSBC kept its 2026 forecast for income from lending, interest earned less interest paid, at no less than $46bn, neither raising nor cutting it. ¹
• It repeated its aim of a return on tangible equity of 17% or better each year to 2028, and of paying out half its earnings as dividends. ¹

Our verdict on the quarter

A strong report. Underlying profit grew 10% from a year ago on steady income, lower costs and smaller loan losses, and HSBC kept its forecast for the year, though the quarter was softer than the one before and bond losses weigh on its equity.

The results as published

• The results release itself
• The filing it came with (SEC)

Notes

1. HSBC's results release, 27 October 2026: sec.gov. ↩
2. Nasdaq's earnings calendar, 27 October 2026. ↩