TacticScaleWhat HSBC Does & How It Makes Money (0005.HK)
Updated October 2026 · reflects HSBC's latest reported financials
Global banking group headquartered in London with major Hong Kong operations. HSBC earns interest income from lending and deposits across its retail and commercial banks.
How HSBC makes money
HSBC earns interest income from lending and deposits across its retail and commercial banks. It also earns fees from transaction banking, capital markets, wealth management, private banking, asset management and insurance.
What HSBC does
HSBC Holdings plc is a diversified global banking group founded in 1865 and headquartered in London. It runs four segments. Hong Kong covers retail banking, wealth and commercial banking through HSBC Hong Kong and Hang Seng Bank. UK covers retail and commercial banking, including the first direct, M&S Bank and HSBC Innovation Bank brands. Corporate and Institutional Banking provides transaction banking and capital markets services. International Wealth and Premier Banking covers premier banking outside Hong Kong and the UK, plus its private bank, asset management and insurance businesses. The group makes most of its money in its two home markets, Hong Kong and the UK. Its global corporate, institutional and wealth businesses add to that. Together they generate both interest income and fee income.
Products & services
- Hang Seng Bank
- first direct
- M&S Bank
- HSBC Innovation Bank
- HSBC Premier banking
- HSBC Private Bank
For banks and lenders, deposits and loans drive the cash flows, so free cash flow doesn't measure what owners earn — and TacticScale's fair value is built on it, so it doesn't publish a number here.
We show a fair value only when the method is trustworthy. See HSBC on TacticScale →
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