---
title: "G Sachs: HSBC HOLDINGS  3Q26 Underlying PBT Misses G Sachs Forecast, NII Slightly Disappoints"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/303180390.md"
description: "Goldman Sachs reports HSBC's Q3 2026 underlying PBT of $10 billion missed GS forecasts by 4% but aligned with market expectations. Net interest income slightly disappointed due to deposit competition in HK and the UK, despite higher rates. CET1 ratio stood at 13.9%. HSBC announced a $0.1 interim dividend and a $1 billion share buyback, exceeding GS's $500 million estimate."
datetime: "2026-10-27T06:55:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/303180390.md)
  - [en](https://longbridge.com/en/news/303180390.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/303180390.md)
generator: "portal-rs"
---

# G Sachs: HSBC HOLDINGS  3Q26 Underlying PBT Misses G Sachs Forecast, NII Slightly Disappoints

Goldman Sachs said in a report that HSBC HOLDINGS (00005.HK) -7.600 (-5.345%) Short selling $245.24M; Ratio 39.388% 's 3Q26 underlying profit before tax was USD10 billion, 4% below the broker's forecast but in line with market expectations. Net interest income was 3% and 2% below Goldman Sachs' and market forecasts, respectively, while non-net interest income was 3% and 1% below Goldman Sachs' and market expectations, respectively.

Goldman Sachs noted that the bank's net interest income performance was slightly disappointing despite higher interest rates and strong loan growth, amid intensifying deposit competition pressure in Hong Kong and the UK. The third-quarter Common Equity Tier 1 ratio was 13.9%. The group announced a third interim dividend of USD0.1 per share and launched a share buyback of up to USD1 billion, higher than Goldman Sachs' expectation of USD500 million. (ad/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-10-27 12:25.)

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- [GS.US](https://longbridge.com/en/quote/GS.US.md)

## Related News & Research

- [HSBC HOLDINGS  3Q Reported PBT YoY +32% to USD9.632B, In Line](https://longbridge.com/en/news/303167339.md)
- [UBS: HSBC HOLDINGS  3Q Pre-provision Profit Misses Expectations, Maintains 'Neutral' Rating](https://longbridge.com/en/news/303180370.md)
- [BofAS Cuts HSBC HOLDINGS  TP to GBX1,685; 3Q Revenue Soft but Capital Positive](https://longbridge.com/en/news/303323360.md)
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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**