HSBC Holdings PLC

HSBA: XLON (GBR)

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HSBC Earnings: Robust ROTE Underpinned by Strong Wealth Business; Valuation Up 20%-23%

Kathy Chan

Feb 26, 2026

Excluding notable items, HSBC's 2025 returns on tangible equity, or ROTE, improved to 17% from 16% in 2024, as 7% pretax profit growth was supported by resilient net interest income and strong net fee income growth. Dividends per share grew 14% to USD 0.75.

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HSBC Holdings PLC

HSBC Earnings: Robust ROTE Underpinned by Strong Wealth Business; Valuation Up 20%-23%

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