HSBC reported a 4% rise in underlying first-quarter revenue to $19.1bn, which ignores currency and one-off items. Growth was driven by banking net interest income and a strong showing from the wealth business.
Underlying profit before tax was broadly stable at $10.1bn ($10.0bn expected). Credit impairments rose 41% to $1.3bn, including a fraud-related charge and additional allowances linked to uncertainty around the Middle East conflict.
The CET1 ratio, a key measure of financial resilience, was 14.0% at the end of the quarter (14.0-14.5% target range). A first interim dividend of $0.10 per share was announced.
2026 guidance now points to banking net interest income of around $46bn, up from previous guidance of at least $45bn and slightly ahead of consensus at $45.8bn.
The shares fell 5.2% in early trading.
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HSBC key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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