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HSBC delivered a “beat and a raise” with its annual results on Wednesday, and traders reacted accordingly, pushing the shares up more than 5% in trading on the London Stock Exchange. As a result, its market capitalization passed Wells Fargo WFC, putting it fifth among the world’s biggest banks by market capitalization.

London-headquartered HSBC UK:HSBA reported a pretax profit of $29.9 billion for 2025, some 9% ahead of consensus and revenues of $68.2 billion. It exceeded estimates of $67.4 billion. At the same time, CEO Georges Elhedery’s guidance for 2026 net interest income was 5% above current expectations. He said the company hopes to achieve its $1.5 billion cost-reduction goal this summer, some six months ahead of schedule.