7 %

That's how much HSBC's fees from financing international trade grew in the first half of 2026, compared with a year before.

CEO Georges Elhedery told journalists the bank is benefiting as different Asian economies trade more between themselves. Another boost came from international trade in services, which Elhedery said was expanding faster than trade in goods.

HSBC has a long history funding cross-border commerce. When President Trump unveiled tariffs in the spring of 2025, its shares sank. But the bank, based in London and Hong Kong, appears to be profiting from more convoluted trading patterns.

U.S. tariffs aren't the only reason for more intra-Asian trade. The IMF said last year that trade within Asia had grown 43% over four decades, and that more than half of Asian trade was regional.

Trade-finance revenue wasn't the only bright spot in HSBC's earnings today: It reported a 60% jump in overall pretax profit and resumed share buybacks.