The macroeconomic outlook is facing heightened uncertainty. The Group is well-positioned to manage the impacts of these challenges, and supporting our clients through this volatile period is a top priority.<\/p>\n
We retain all of the Group financial targets we announced at our full year 2025 annual results in February 2026, including a RoTE of 17% or better for 2026, 2027 and 2028, excluding notable items. <\/p>\n
We now expect banking NII of around $46bn in 2026, reflecting an improved interest rate outlook, while recognising the outlook remains volatile and uncertain.<\/p>\n
We now expect ECL charges (expected credit losses and other credit impairment charges) as a percentage of average gross loans to be around 45bps in 2026 (including loans held for sale balances), reflecting ongoing uncertainty in the outlook. Over the medium term, we retain our planning range of 30-40bps.<\/p>\n
We retain our commitment to Group-wide cost discipline. We\u2019re continuing to target growth in target basis operating expenses of approximately 1%, compared with 2025.<\/p>\n
We intend to continue to manage our CET1 capital ratio within our medium-term target range of 14.0% to 14.5%. A decision to recommence buybacks will be subject to our normal buyback considerations and process on a quarterly basis.<\/p>\n","protected":false},"excerpt":{"rendered":"The macroeconomic outlook is facing heightened uncertainty. The Group is well-positioned to manage the impacts of these challenges,…\n","protected":false},"author":2,"featured_media":51996,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[20667],"tags":[25822,21652,20177,9881],"class_list":["post-51995","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hsbc","tag-1q-results","tag-financial-performance","tag-financial-results","tag-hsbc"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116660184356444038","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/51995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=51995"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/51995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/51996"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=51995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=51995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=51995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}