HSBC beats estimates with US$10.1B quarterly profit, announces US$1B buyback

Published Aug 4, 04:27 AM UTC

HSBC reported a quarterly profit of US$10.1 billion, surpassing analyst estimates, and announced a new US$1 billion stock buyback program. CEO Georges Elhedery indicated that the lender would consider increasing its bonus pool if performance continues at this level. The strong results were partly attributed to the bank's ongoing restructuring efforts, which are expected to yield US$2 billion in savings. The announcement was made on August 4, 2026, and reported by The Business Times Singapore.