Q1 2026 HSBC Holdings PLC Earnings Call Transcript
Welcome to the Analyst and Investor presentation for HSBC Holdings PLC first quarter 2026 earnings. This webinar is being recorded. I will now hand over to Pam Kaur, Group Chief Financial Officer.
Welcome everyone. Thank you for joining. We have had another quarter of positive performance which reflects further progress towards creating a simple. More agile, growing HSBC. Annualized return on tangible equity, excluding notable items, was 18.7%. We are confident in achieving the targets we set out to you at the full year. We are updating two pieces of guidance today.
Banking NII to around $46 billion and our expected ECL charge to around (technical difficulty) disciplined progress in simplifying the group to unlock HSBC's growth potential. We actioned a further $0.2 billion of simplification saves. And remain well on course to deliver the $1.5 billion target.
We completed the privatization of Hang Seng Bank, the sale of UK life insurance, Sri Lanka retail banking, and South Africa and
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