Mumbai: Hong Kong and Shanghai Banking Corp Ltd’s (HSBC) India profit before tax increased 4% year on year in the first half of calendar 2026 led by higher revenue from corporate and institutional banking (CIB) its largest vertical in India. Profit before tax increased to $965 million in six months ended June 2026 from $931 million a year ago.India is the fourth most profitable market behind Hong Kong ($7.78 bln), UK ($3.62 bln) and China ($1.83 bln), dropping a place from a year ago. The Chinese business of the bank had made a loss in the first half of 2025. The Chinese business of HSBC had made a $438 million loss in the first half of last year because of the dilution of the bank’s shareholding in its associate Bank of Communications (BoCom) and an impairment loss on the carrying value of the Group’s investment in BoCom.Profit before tax from the CIB business increased 3% to $792 million in the six months ended June 2026 from $767 million a year ago. This division is the bank’s main business centre in India and services large corporations and includes treasury operations. HSBC is the largest mobiliser of foreign currency deposits under the special scheme announced by RBI garnering $6.1 billion until July 31, more than the $4.1 billion received by State Bank of India, government data released on Monday showed.Profit from the bank’s corporate centre division, which provides support services to the bank globally, increased 15% to $124 million from $108 million a year ago. The bank’s wealth and premier banking division reported a sharp 32% drop in profits to $39 million from $57 million a year ago. A bank spokesperson declined to comment on the results.The bank’s total wholesale loans to customers increased 5% year on year to $21.42 billion from $20.47 billion a year ago. Expected credit loss provisions dropped slightly to $58 million from $60 million a year ago.Globally the bank reported a 23% year-on-year rise in pre-tax profit to $19.5 billion in the first six months of 2026 helped by higher net interest income, fee and other income.
HSBC India profit rises 4% to $965 million in H1 2026, corporate and institutional banking drives growth
HSBC India's profit before tax rose four percent in the first half of 2026. Higher revenue from corporate and institutional banking fueled this significant profit increase. The bank's wealth and premier banking division, however, saw profits drop sharply. HSBC India also led in mobilising foreign currency deposits under a special RBI scheme. Globally, HSBC reported a substantial twenty-three percent rise in pre-tax profit.
TL;DRAI
HSBC India H1 2026 pre-tax profit +4% to $965M, corporate banking drives growth; bank leads RBI forex deposits market. Signals enterprise IT spending priorities on settlement systems, compliance tech, and AI automation in Indian wholesale banking.
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