HSBC announces share buy-back of up to $1 billion
British Banking giant HSBC said Tuesday it would buy back up to $1 billion of shares after a big jump in profits in the first half of 2026.
The jump in profits was due to "growth in banking net interest income and higher fee and other income," HSBC said in its earnings report, adding that the profit in banking increased by $1.4 billion.
"HSBC is becoming the stronger bank we set out to build. We are executing our strategic priorities with pace, precision and discipline," CEO Georges Elhedery added in a statement.
Profit attributable to shareholders rose around 27 percent to $14.6 billion in the six months to June, up from $11.5 billion a year earlier.
