HSBC Holdings plc today reported its financial metrics for the three months ended June 30, 2026.

Profit before tax increased by $3.8bn or 60% to $10.1bn compared with 2Q25, primarily reflecting a net favourable impact from notable items of $2.6bn. The increase also reflected growth in banking NII, and higher fee and other income primarily in Wealth and WTB.

Profit after tax increased by $3.1bn or 63% to $7.9bn compared with 2Q25.

In 2Q26, notable items included restructuring costs associated with HSBC’s organisational simplification of $0.2bn. In 2Q25, notable items included dilution and impairment losses of $2.1bn related to HSBC’s associate BoCom, and restructuring costs associated with its organisational simplification of $0.5bn.

Revenue increased by $2.6bn to $19.1bn compared with 2Q25, including a year-on-year net favourable impact of $1.3bn from notable items. The increase also reflected a rise in banking NII, and strong growth in Wealth fee and other income in HSBC’s IWPB and Hong Kong business segments, supported by higher customer activity. Revenue grew in Debt and Equity Markets and WTB in HSBC’s CIB business. Constant currency revenue excluding notable items rose by $1.3bn to $19.0bn.

ECL of $1.1bn were stable compared with 2Q25. The charge in 2Q26 primarily comprised stage 3 charges, including $0.2bn related to the Hong Kong CRE sector. The ECL charge in 2Q25 included charges of $0.4bn related to the Hong Kong CRE sector.

Operating expenses of $8.7bn were $0.2bn or 2% lower compared with 2Q25, reflecting lower restructuring costs together with the resultant cost reduction benefits from HSBC’s organisational simplification, and the phasing of performance-related pay accrual relative to 2Q25. These reductions were partly offset by higher planned spend and investment in technology, the impact of inflation and an adverse impact from foreign currency translation differences of $0.1bn.

Customer lending increased by $20bn compared with 1Q26 on a reported basis, reflecting growth across all segments.

Customer accounts increased by $46bn compared with 1Q26 on a reported basis, primarily reflecting growth in HSBC’s CIB business, notably in Hong Kong, partly offset by the classification of deposits from the planned sale of HSBC’s retail banking business in Indonesia to held for sale.

HSBC continues to target year-on-year growth in revenue from 2026 to 2028, rising to 5% growth in 2028 compared with 2027, excluding notable items and on a constant currency basis.