HSBC Holdings, plc. (HSBC) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the analyst and investor presentation for HSBC Holding plc's 2026 interim results. This webinar is being recorded. I will now hand over to Georges Elhedery, Group CEO. Welcome all to today's call. I'm joined by Pam who will take you through the second quarter performance in detail in a moment. I'll cover three items. One, our second quarter highlights and the first half performance. Two, the progress we're making on strategy execution. And three, our targets for 2026, 2027 and 2028. Let's turn straight to performance. My comments here will exclude notable items and the comparisons will be year on year on a constant currency basis. Momentum accelerated into the second quarter. We grew revenues by 7% to 19 billion US dollars. We generated profit before tax of 10.3 billion US dollars, up 13% year on year. And we delivered an annualized return on tangible equity for the quarter of 19.5%. We grew our deposit franchise by 46 billion US dollars and grew our loans by 20 billion US dollars. Next, the half-year performance highlights. We grew both group revenues and group profits before tax by 6%, with an annualized return on tangible equity of 19.1%. Year on year, we grew our deposit franchise by US$129 billion, or 8%, including health for sale balances. Our deposit base stands at US$1.8 trillion. We grew loans $55 billion or 6% year-on-year on the same basis. We see improved demand in Hong Kong and consistent strong growth in the UK. We grew fee and other income in wholesale transaction banking by 4%. As the world's trade bank, this shows the central role we are playing and the growing market share we are taking as our customers adapt to new patterns of trade. In wealth, we grew fee and other income by 18%, delivering particularly good growth in our market-leading...