3Q 2026 Earnings Release: Pam Kaur video

3Q Results 2026

Duration:
00:04:22

Speaker names:
Pam Kaur, Group Chief Financial Officer, HSBC

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3Q Results 2026

Pam Kaur
Group Chief Financial Officer
HSBC

[Pam]
Our third quarter results show the progress we are making, the performance we are delivering, and the potential we are building for the future.

Revenue grew five percent to $18.7 dollars.

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Strong performance in third quarter
Revenues grew 5% to $18.7bn

[Pam]
This was broad-based across our four businesses and income lines.

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Strong performance in third quarter
Profit Before Tax $10.0bn [excluding notable items]
Up 10% year-on-year

[Pam]
We delivered strong profit before tax growth, up ten percent to $10 billion dollars.

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Strong performance in third quarter
Annualised RoTE 18.8% year-to-date [excluding notable items]

[Pam]
Annualised return on tangible equity was 18.8 percent year to date, 1.1 percent higher than last year.

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Four high-returning businesses
Annualised RoTE in excess of 17% [excluding notable items]

[Pam]
All four of our businesses grew deposits, with each delivering annualised return on tangible equity in excess of 17 percent, excluding notable items.

The strength of our franchise has been demonstrated over the last twelve months, and again in this quarter.

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The world’s wholesale transaction bank
Fee and other income grew by 11%
Year-on-year

[Pam]
In wholesale transaction banking, we grew fee and other income 11 percent year on year as clients continued to turn to us to help them navigate market complexity.

Our balance sheet and franchise strength are particularly valuable in times like these.

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Asia’s #1 Wealth Manager
Net new money in Asia $38bn [excluding notable items]

[Pam]
In wealth, net new money of $38 billion dollars in Asia this quarter brings our total year to date flows to more than $100 billion dollars, demonstrating why we are Asia's number one wealth manager.

We also have a strong and growing deposit franchise.

Deposits increased by a $105 billion this quarter, including held-for-sale balances.

We are pleased to be the largest international participant in the Reserve Bank of India's Foreign Currency Non-Resident Bank deposit scheme, the second largest bank overall.

And in Hong Kong, we saw another strong performance with $21 billion dollars of deposit growth.

Here we are benefiting from being full owners of the two iconic banks, from the growth of Hong Kong and our continued investment.

On the lending side, the strength of the housing market in Hong Kong is translating into mortgage growth, where we have a competitive range of fixed and floating products.

In the UK, we are particularly pleased with the 13% commercial lending growth year on year.

This reflects our leading position with the UK companies, which provides us with great opportunities.

This broad-based performance shows why we are confident in meeting the targets we set out at the full year.

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Targets reiterated
Revenue rising to 5%
Year-on-year growth by 2028

Return on Tangible Equity 17% Or better [excluding notable items]

Dividends 50% Of EPS [excluding material notable items and related impacts]

[Pam]
And we are reallocating costs from non-strategic or low-returning businesses towards growth opportunities while upgrading our operating model.

Thereby creating further potential which we have yet to realise.

This quarter's performance reflects the extraordinary dedication of our people, their commitment to our customers and clients, and their skills and expertise, especially during complex times.

This gives me great pride.

I am particularly proud of what we are achieving together.

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