HSBC boss signals overhaul of bank is almost over despite drop in profits

The Guardian - World NewsCenter-LeftEN 2 min read 100% complete by Joanna Partridge and agenciesFebruary 25, 2026 at 09:15 AM

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HSBC CEO Georges Elhedery announced that the bank's restructuring is nearing completion despite a 7% drop in annual pre-tax profits to $29.9 billion, attributed to $4.9 billion in one-off charges including a write-off from its stake in China's Bank of Communications. The bank aims to achieve a return on tangible equity of "17% or better" through 2028, up from its previous target. HSBC's Hong Kong-listed shares rose 2.5% following the results, which included a final dividend of 45 cents per share. Since Elhedery took over, HSBC has reorganized divisions, divested smaller units, and reduced senior management, leading to a 50% increase in its London-listed stock in 2025. The bank also took Hang Seng Bank private and anticipates $900 million in pre-tax revenue and cost synergies by the end of 2028.

Key Entities & Roles

Key Player Opposition Context

United States 30% Europe ×230% London 40% Jefferies 40% Hong Kong 50% Hang Seng Bank 50% Bank of Communications 60% China ×270% Georges Elhedery ×480% HSBC ×1190%

Keywords

bank overhaul 90% hsbc 80% profit drop 70% return on tangible equity 60% restructuring 60% financial performance 50% cost synergies 50% dividend 50% china property sector 40%

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Positive

Score: 0.20

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The Guardian - World News

Political Lean

Center-Left (-0.40)

Far LeftCenterFar Right

Classification Confidence

90%

Geographic Perspective

China

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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