HSBC profits surge 32%: Positive Money response

Sara Hall, Co-Executive Director of Positive Money, said:

“HSBC’s profits have surged because of higher interest rates, not because of any improvements to the products or services they offer customers.

“Banks are blowing billions of pounds on bonuses not seen since the financial crash and massive payouts to shareholders, rather than investing in UK businesses or communities.

“The Chancellor should claw back some of these lost billions with a windfall tax on bank profits this week, to show the public that this government will put the public interest ahead of corporate ones.”

Notes to editors:

• HSBC full profit announcement can be found here: https://www.hsbc.com/news-and-views/news/media-releases/2026/hsbc-holdings-plc-3q-2026-earnings-release 

• Positive Money estimates a windfall tax on bank profits could raise £19bn this year: https://positivemoney.org/uk/press-release/windfall-tax-on-colossal-bank-profits-could-raise-pound19bn-in-2026/ 

About Positive Money:

Positive Money is an international research and campaign organisation working to redesign our economic system for social justice and a liveable planet. Set up in the aftermath of the financial crisis, Positive Money is a not-for-profit company funded by charitable trusts and foundations, as well as small donations from its network of supporters. Find out more: www.positivemoney.org 

ENDS