London, Feb 24, 2026, 08:26 GMT — Regular session
- HSBC shares eased in early London trade ahead of the bank’s annual results on Wednesday.
- Egypt’s Commercial International Bank said it received clearance to start due diligence on HSBC’s Egypt retail portfolio.
- Investors are looking for guidance on capital returns and any update on disposals.
HSBC Holdings Plc shares fell in early London trading on Tuesday, with investors parsing fresh signs of movement around a possible exit from its Egypt retail business and looking ahead to annual results due a day later. The stock was down 10.8 pence, or 0.8%, at 1,282.6 pence, after trading between 1,276 and 1,292.4 pence so far. (Investing)
The Egypt process matters now because it sits inside a broader push by chief executive Georges Elhedery to simplify the bank and sharpen where it spends capital. That work has become the backdrop for how shareholders judge the next dividend and any share buyback, and how much risk HSBC is willing to carry into 2026. (HSBC)
HSBC is due to publish its Annual Results 2025 on Wednesday, and it has scheduled an investor and analyst call later that morning. Traders will be listening for what changes — if anything — in the group’s targets, and whether management flags more exits from smaller retail footprints. (HSBC)
Commercial International Bank (Egypt) said it had received clearance from the Central Bank of Egypt to start due diligence — a detailed review of a business — on HSBC’s retail banking portfolio in the country. CIB cautioned there was no assurance that this would lead to a transaction and said it would update the market on any material developments. (Investegate)
HSBC said in October it would undertake a strategic review of its retail banking business in Egypt as part of what it called ongoing simplification globally. It said the review covered retail only and did not include wholesale banking activities, adding that no decisions had been made at that time. (Hsbc)
HSBC executives have tried to separate the fate of retail from the rest of the franchise. “HSBC is very committed to Egypt as a strategic market,” HSBC Egypt CEO Todd Wilcox told EnterpriseAM, while chairman of HSBC Middle East Holdings Samir Assaf said the bank remained committed to Egypt as it invests and builds capability. (EnterpriseAM Egypt)
The capital-return drumbeat has been loud across the sector. Standard Chartered, another Asia-focused lender, has launched a $1.5 billion buyback, the Financial Times reported, keeping investor attention on dividends and repurchases going into the next round of bank results. (Financial Times)
For HSBC, the immediate focus is whether it pairs any strategic update with a fresh payout plan. Investors will also watch for commentary on costs, including any restructuring charges, and on credit quality — the risk that borrowers stop paying — after a strong run in bank shares.
Rates are still the big swing factor in the background. Shifts in central bank expectations and bond yields can change the outlook for net interest income, the spread between what a bank earns on loans and what it pays on deposits, and that can move estimates quickly.
But the Egypt due diligence could still fizzle. CIB has already warned a deal may not happen, and any sale would need to clear valuation and regulatory hurdles. Results could also disappoint if HSBC flags heavier costs, weaker revenues in key businesses, or a pickup in loan-loss provisions.
Even if Egypt proves financially small next to the group, the signal matters: investors want a cleaner map of where HSBC exits, where it doubles down, and how quickly that translates into cash coming back to shareholders.
