HSBC’s profits down 30.6% to $11.51b in H1 2025

Revenue declined by 9% to $34.1b during the six-month period.

HSBC reported a profit attributable to ordinary shareholders of $11.51b in the first six months of 2025, a 30.6% drop from the $16.59 it earned during the same period last year.

Profit before tax declined to $15.8b, 26.43% lower than the $21.49b a year earlier.

The decline was primarily due to the recognition of dilution and impairment losses of $2.1b related to its associate Bank of Communications, HSBC said in its interim results released on 30 July 2025.

Revenue decreased by 9% to $34.1b, although HSBC said that the higher revenue in H1 2024 was due to gains from disposals of Canada and Argentina in H1 2024. Excluding these notable items, revenue would have increased on fee and other income growth.

Net interest income (NII) declined 9% to $34.1b in H1 2024.

Net interest margin (NIM) is 1.57%, 5 basis points (bp) lower than in H1 2024. HSBC blamed this on the adverse impact from foreign currency translation differences and the disposal of its business in Argentina, offset by the benefit of our structural hedge.

CET1 ratio is 14.6%, 0.3 percentage points lower than on 31 December 2024.

(Note: all figures in US dollar)