HSBC quarterly profit soars to $10.1bn

HSBC reported a pre-tax profit of $10.1bn for the second quarter of 2026, surpassing internal forecasts. This growth was driven by its insurance and wealth management operations in Hong Kong. Consequently, the FTSE 100 bank, the most valuable company on the London Stock Exchange with a £274bn market cap, has initiated a $1bn share buyback programme. These results demonstrate a significant surge in profitability for Europe’s largest lender over the last three months.