HSBC (HSBA) AGM 2026 summary

Opening remarks and agenda

• The AGM was held in a hybrid format, allowing both in-person and virtual participation, with a focus on shareholder engagement and flexibility.

• Brendan Nelson chaired his first AGM as Group Chairman, expressing gratitude to shareholders and acknowledging his predecessor.

• Voting procedures for 17 resolutions were explained, with polls open throughout the meeting and guidance provided for both in-person and virtual attendees.

Financial performance review

• 2025 saw strong financial results: $71 billion in revenue (up 5%), $36.6 billion profit before tax (up 7%), and a 17.2% return on tangible equity, excluding notable items.

• $18.9 billion was returned to shareholders, including $12.9 billion in dividends ($0.75 per share, up 14% from 2024) and $6 billion in share buybacks.

• Total shareholder return for 2025 exceeded 57%, with a 49% increase in share price.

• A first interim dividend for 2026 of $0.10 per share was approved, with a 50% payout ratio target maintained through 2028.

Board and executive committee updates

• Wei Sun Christianson joined as an independent non-executive director; Ann Godbehere stepped down.

• Richard Meddings and Eileen Murray were appointed as independent non-executive directors, effective after the AGM.

• The board now comprises two executive directors, 11 independent non-executive directors, and the Group Chairman.