London – We've released our financial results for the first half and second quarter ended 30 June 2026. For more details, please visit our Investor Relations section. All figures are presented on a reported basis and comparisons are made to 2025 on a constant currency basis, unless otherwise stated. Bill Winters, group chief executive, said: "We delivered a record first-half performance in 2026, with double-digit growth in Wealth Solutions and Global Banking. Our performance demonstrates the strength of our differentiated international network and the disciplined execution of our strategy. Clients continue to turn to us to facilitate trade, investment and wealth flows across the world's most dynamic markets. We delivered a 17 per cent increase in our earnings per share, and our upgraded income guidance and new share buyback of $1 billion reflect our confidence in the business." Manus Costello, group chief financial officer, said: "We are now compounding the growth of our powerful franchise while investing to build a simpler, faster and more connected bank that meets the evolving needs of our clients. At the same time, we remain disciplined on expenses and focused on managing capital tightly. Together, these strengths give us confidence in our ability to deliver exceptional growth and sustainably higher returns." Selected information on H1'26 financial performance with comparisons to H1'25 unless otherwise stated Record operating income up 6 per cent to $11.6 billion, up 8 per cent excluding the Solv India transaction Net interest income1 (NII) up 4 per cent to $5.7 billion; Non-interest income1 up 8 per cent to $5.9 billion Wealth Solutions up 38 per cent, driven by strong growth in investment products Global Banking up 19 per cent, driven by strong origination activity and strong capital market activity Operating expenses up 1 per cent to $6.3 billion, up 2 per cent excluding notables2 Credit impairment charge of $446 million with $296 million from Wealth & Retail Banking (WRB) and $150 million from Corporate & Investment Banking (CIB) mostly driven by management overlays relating to the Middle East conflict Record profit before tax of $4.8 billion, up 9 per cent Tax charge of $1.1 billion; effective tax rate of 23.3 per cent Return on Tangible Equity (RoTE) of 17.6 per cent, up 120bps Earnings per share increased 17 per cent to 151.6 cents Selected information of Q2'26 financial performance with comparisons to Q2'25 unless otherwise stated Operating income of $5.7 billion up 3 per cent Excluding $238 million gain on the Solv India transaction in Q2'25, income is up 8 per cent NII1 up 7 per cent to $2.9 billion; driven by volumes and improved balance sheet mix Non-interest income1 of $2.8 billion was broadly flat, up 9 per cent excluding the Solv India transaction; driven by continued momentum in Wealth Solutions and Global Banking Wealth Solutions up 43 per cent, mostly driven by strong double-digit growth in Investment Products Global Banking up 18 per cent, driven by strong origination activity and increased capital markets activity Operating expenses were broadly flat, up 3 per cent excluding a notable item of $74 million release of provisions on Korea equity-linked securities (ELS) portfolio Credit impairment charge of $150 million up $31 million. WRB charge of $116 million down $49 million mainly from portfolio actions. CIB charge of $39 million was up $78 million mostly from management overlays partly offset by releases Profit before tax of $2.3 billion, up 2 per cent RoTE of 17.9 per cent, broadly flat Balance sheet remains strong, liquid and well diversified with underlying loans and advances to customers up 2.2 per cent and underlying customer deposits up 2 per cent quarter-on-quarter Risk-weighted assets (RWA) of $261.5 billion, down $4.7 billion since 31.3.26; Credit risk RWA down $3.4 billion, Market RWA down $1.4 billion and Operational RWA flat The group remains strongly capitalised with Common Equity Tier 1 (CET1) ratio of 14.2 per cent up 77bps quarter-on-quarter $1 billion share buyback starting imminently is expected to reduce CET1 ratio by 38bps Interim ordinary dividend increased 66 per cent to 20.4 cents per share ($448 million) Tangible net asset value per share of $17.55, up 4 per cent Guidance Our revised 2026 guidance is as follows: Operating income growth year-on-year to be around the middle of the 5-7 per cent range at constant currency and excluding material notable2 items Within which, net interest income1 expected to be low single digit percentage growth year-on-year at constant currency Expenses excluding notables2 expected to be around $13.3 billion at constant currency RoTE to be greater than 12 per cent For more details, please visit our Investor Relations section. Net interest income and non-interest income are adjusted for trading book funding cost, treasury currency management activities, interest from cash collateral from trading businesses and from prime services activities. Material notable items in 2026 expenses include $74 million release of provision on Korea ELS (2025 income includes $113 million relating to a property sale, 2025 expenses include $158 million relating to Korea ELS and a litigation settlement). Re-disseminated by The Asian Banker
