HSBC (HSBC) said in its 2025 annual report Wednesday that it approved total variable pay of $3.93 billion, a 10% increase from the $3.57 billion awarded in 2024 after adjusting for disposals and organizational changes.

The bank said the decision followed a review of performance against financial and non-financial metrics.

HSBC said it considered the strength of its 2025 financial results, the ratio of variable pay to pre-variable profit before tax, performance against key risk and compliance metrics, its compensation market position, and the broader economic outlook.

Chief Executive Georges Elhedery said in an interview with Bloomberg Television that the new compensation framework would help the bank "attract, hire and retain talent," according to Bloomberg.

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