The group’s wealth revenue fell 8.7% to US$2.1 billion in Q2 22 year-on-year (YoY) mainly due to the adverse insurance market impacts of US$702m.

HSBC has reported a drop of 6.6% to US$110 billion in its w ealth balances as invested assets decreased due to 'lower market levels and adverse FX'. Personal banking revenue, on the other hand, increased by 20% to US$3.5 billion from interest rate rises and balance sheet growth YoY. As a result, the wealth & personal banking (WPB) segment posted US$5.7 billion revenue in Q2 22, up five percent YoY, with a combined WPB revenue of US$10.9 billion in H1 22, down 0.5% compared with the first si