HSBC India profit rises 4% to $965 million in H1 2026, corporate and institutional banking drives growth
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.
