May newsletter
Our 1Q results
We approved a first interim dividend for 2026 of $0.10 per share as part of our 1Q 2026 results update.
Our results, announced on 5 May, show that each of our four businesses - Hong Kong, UK, Corporate and Institutional Banking, and International Wealth and Premier Banking - grew revenues in the first quarter.
For the period ended 31 March 2026, profit before tax was $10.1bn and revenue was $19.1bn, both excluding notable items.
Annualised return on average tangible equity (RoTE) was 17.3%, or 18.7% excluding notable items.
“We continued to make positive progress in creating a simple, more agile, growing HSBC,” said Georges Elhedery, our Group CEO.
“Each of our four businesses contributed to firm-wide revenue growth and each delivered an annualised RoTE in excess of 17%, excluding notable items.
“In periods of greater uncertainty, customers turn to us more as their trusted partner to navigate complexity with the financial strength, stability and expertise they know they can rely on.
“We remain confident in achieving the targets we set out in February 2026.”
Find out more about our performance in our 1Q 2026 quick read.
Our growth strategy is delivering, AGM hears
We’re clear on our core strengths - and we’re investing to develop our competitive advantages further and deliver sustainable growth, Group Chairman Brendan Nelson told our Annual General Meeting in London earlier this month.
“2025 was a very good year for the Group,” Brendan (pictured) said at the AGM - his first as Group Chairman. “Indeed, our first quarter results in 2026 … provided further evidence that our growth strategy is delivering.
“We will continue to focus on the execution of our strategy, navigating the continuing global geopolitical and macroeconomic uncertainty.”
Among the topics Group CEO Georges Elhedery addressed were how AI is reinventing customer experience, and how new forms of finance are also reinventing how money moves through the financial system.
“Demand for globally connected financial services is increasing,” he added.
“Asia is central to this,” Georges said. “It is driving 60% of global growth and 40% of global trade… that is why we have taken decisive action to position HSBC to capture these structural growth opportunities.
“Our strategy is working. The results are clear in our financial performance… We performed. We transformed. And we continued to invest for growth,” he said.
Fifteen resolutions backed by the Board were passed by shareholders at the AGM.
Two further shareholder-requisitioned resolutions, relating to the Midland Clawback Campaign, were defeated, in line with the Board’s recommendation.
Asia seminar for investors and analysts
We welcomed about 50 investors and analysts from around the world to Hong Kong for our Asia seminar, held last week.
The event showcased our scale in the region and the strength of our franchise, as well as the growth opportunities across Hong Kong and Asia.
Key messages were delivered by Group CEO Georges Elhedery; Group CFO Pam Kaur; our Co-CEOs of Asia and Middle East, David Liao and Surendra Rosha; our CEO of International Wealth and Premier Banking Barry O’Byrne, and other senior leaders.
The messages included:
We’re the #1 bank in Hong Kong. The scale and depth of our franchise in the city is underpinned by a strong customer franchise and leading product propositions. We’re confident we can deliver more growth through HSBC and Hang Seng Bank.
We’re the #1 wealth manager in Asia. Wealth contributes 25% of Group revenue and two-thirds of it is in Asia. We serve the full spectrum of customers and they benefit from the manufacturing capabilities across the entire HSBC Group. We’re well-equipped to capture the growth opportunity.
We’re the #1 wholesale transaction bank across the region. Asia is buying Asia and we’ll grow alongside the trade, capital and investment flows shaping the region’s future. Some 65% of cross-border client revenue is from customers whose home market is in the Americas, Europe or the UK - and 45% of it flows to Asian markets.
Find out more and watch replays.
Supporting customers through crisis and calm
Today, our world is more connected – and complex – than ever.
In these times of rapid change, our customers need a bank that's there for them through crisis and calm, shocks and shifts - and at many moments in between.
Just as we have been since our story began, more than 160 years ago.
We’ve captured our enduring story in a new film, parts of which were enhanced using artificial intelligence to bring our archives to life.