27 October 2026
If you are covering HSBC's latest results, please see the following comment from Will Howlett, financials analyst at Quilter Cheviot:
“HSBC’s third-quarter results have fallen a little short of market expectations. Revenue was weaker than anticipated, with pressure on net interest income and a slowdown in wealth, and that disappointment has translated into a slide in the share price.
“The numbers themselves are not disastrous. Profitability remains strong, with an 18.2% return on tangible equity, while loan losses were better than expected and HSBC has reiterated its target of delivering returns above 17% over the next three years. The bank is also returning another $1bn to shareholders through a buyback.
“The issue is that HSBC has set a high bar for itself. Following a strong run for the shares, investors have become accustomed to robust results, so even relatively modest misses can prompt a sharper reaction. Today’s fall therefore looks more like disappointment against high expectations than a significant deterioration in the underlying business.”
