HSBC Reports $9.6 Billion Third-Quarter Pre-Tax Profit

HSBC reported a 32% increase in third-quarter pre-tax profit, reaching $9.6 billion. The result largely aligned with analyst estimates of approximately $9.7 billion. Revenue rose to $18.6 billion, supported by a 6% increase in banking net interest income and higher fee income from corporate banking and wealth management.

Earnings were bolstered by lower credit losses and the absence of $1.4 billion in legal provisions that had been recorded in the previous year. In response to the performance, the bank approved a third interim dividend of 10 cents per share and announced a share buyback of up to $1 billion to be completed by the end of 2026.

Looking ahead, the lender maintained its 2026 net interest income forecast of at least $46 billion. It also set a return on average tangible equity target of 17% or higher for the period between 2026 and 2028. To facilitate the adoption of artificial intelligence, the bank is reportedly considering job cuts within its wealth management division in the United Kingdom.