HSBC’s net profit jumps in third quarter but misses forecasts

HONG KONG

People alight from a tram outside the HSBC bank headquarters in Hong Kong on October 27, 2026, ahead of the bank's third quarter results announcement. (AFP Photo)

Banking giant HSBC said on Oct. 27 that net profit in the third quarter rose a less-than-expected 45.5 percent year-on-year as the London-headquartered lender continued to restructure operations and cut costs.

Profit attributable to shareholders for the three months ended September stood at $7 billion, from $4.87 billion a year earlier, HSBC said in a filing to the Hong Kong stock exchange.

Pre-tax profit grew 32 percent to $9.6 billion, with revenue increasing by $0.8 billion to $18.6 billion.

"As we simplify HSBC, we are creating greater capacity to invest, grow and deliver strong returns for our shareholders," chief executive Georges Elhedery said in the filing.

The banking giant also approved a third interim dividend of $0.10 per share, and announced second $1 billion buyback after completing one in the previous three months.

HSBC said it remained "confident in achieving the targets" set out earlier this year.

"We continue to target year-on-year growth in revenue from 2026 to 2028, rising to five percent growth in 2028 compared with 2027," it said.

The lender expected banking net interest income of at least $46 billion for 2025.