August newsletter

Get ready for your US$0.10 dividend

After another strong profit performance in the first half of 2024, we’re returning further capital to you, our shareholders.

Our profit before tax of US$21.6bn enabled us to approve a second interim dividend of US$0.10 per share, which is payable on 27 September.

We also plan to buy back shares up to a value of US$3 billion.

Our revenue for the half-year was US$37.3bn.

“After delivering record profits in 2023, we had another strong profit performance in the first half of 2024, which is further evidence that our strategy is working,” said Noel Quinn, our Group Chief Executive, who delivered his last set of results before retiring from the bank.

Discover more facts and figures in our Interim Results quick read.

Meet our next Group Chief Executive

We’ve appointed Georges Elhedery as Group Chief Executive, effective from 2 September.

Group Chairman Sir Mark Tucker said: “Georges is an exceptional leader and banker who cares passionately about the bank, our customers, and our people.

“He has a track record of leading through change, driving growth, delivering simplification, containing costs and brings a strong focus on execution.”

Georges has worked in Asia, the Middle East and Europe and joined the Board as Group Chief Financial Officer (CFO) in early 2023.

Georges said: “I am deeply honoured by the trust placed in me to lead this great institution into the future. Working together with our talented team, I look forward to delivering exceptional value to our clients and investors by driving strong performance on a sustainable growth trajectory.”

Georges succeeds Noel Quinn, who is retiring from the bank on 2 September after 37 years with HSBC – five of them as Group Chief Executive.

Jon Bingham has been appointed as Interim Group CFO with effect from 2 September. A process to identify the next permanent Group CFO is under way.

A trio of World’s Best Bank awards

We were named the World’s Best Bank for Sustainable Finance; Payments and Treasury; and Public-Sector Clients; in the Euromoney Awards for Excellence 2024.

In total, we topped 33 categories, including winning the Best Bank award in our two home markets – Hong Kong and the UK – and Asia.

For the Best Bank in Hong Kong award, Euromoney highlighted our “unrivalled market penetration”, our “remarkable agility in adapting to the digital age” and “our commitment to innovation and customer-centric services”.

The award wins reflect the strength of our international network and the breadth of our offering.

What the judges said

• Euromoney stated that we won the World’s Best Bank for Sustainable Finance award as we are “leading from the front in the global banking industry’s response to the climate emergency”.
• When it comes to Payments and Treasury, the judges described us as a “global payments powerhouse, delivering innovation and outperformance”.
• And, on Public-Sector Clients, they praised the support we provide, saying we were “instrumental in guiding [these clients] through uncertainty”.

Explore our full list of Euromoney awards.

PayMe goes global with new virtual card

More than 3.2 million PayMe users in Hong Kong are now able to make payments globally following the launch of the app’s first UnionPay virtual card. 

Payments via UnionPay are accepted at 34 million merchants in 46 markets, including mainland China – transforming PayMe into one of the largest cross-border e-wallets in Hong Kong.

Maggie Ng, our General Manager of Wealth and Personal Banking, Hong Kong, said: “This partnership marks a significant milestone for PayMe, which will allow users to enjoy a seamless payment experience in mainland China and overseas.”

If you use the app , simply update it to make payments globally, either online or in-store, with the UnionPay QR code. The payment amount is calculated at a UnionPay exchange rate before it’s deducted from the PayMe wallet balance.

Since launching in 2017, PayMe has evolved from a peer-to-peer transfer platform to a full mobile wallet for users in Hong Kong.

An otterly great project

Did you know there are otters in Hong Kong? Yes, there are!

Through our philanthropic arm, The Hongkong Bank Foundation, we’ve been supporting WWF-Hong Kong’s work to find out how the mammals are doing in the city’s internationally acclaimed Mai Po wetlands.

This otters conservation project is just one example of how we’ve been collaborating with WWF-Hong Kong since 1999, as we work together to care for the environment.

Watch to see how our project used innovative methods (including one involving another animal) to care for the rare species of otter by finding… their droppings.

Learn more about The Hongkong Bank Foundation