HSBC reported pretax profit of $10.1 billion for Q2 2026, beating Wall Street estimates of $9.5 billion. The bank announced a $1 billion share buyback program and raised its cost-cutting target from $1.5 billion to $2 billion. The results included $2.6 billion in notable items alongside strong growth in banking and wealth revenue. HSBC is also developing a digital asset framework including plans to launch a Hong Kong dollar-denominated stablecoin later in 2026.
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