We exist to connect the world’s hardest-to-reach markets to the global economy. Q1 2026 was our biggest quarter of doing that – ever.
We were pleased to announce in a trading statement this morning our strong start to 2026. This built on the momentum from 2025 and delivered our strongest quarterly income performance since the IPO.
Highlights included:
- Total Income (excluding Net Interest Income) was up c.60% Year-on-Year (YoY)
- Total income for Q1 2026 grew c.35% YoY
- Ongoing network and client base expansion.
This performance reflects ongoing disciplined strategic execution across business initiatives, driven by accelerated client activity levels: more clients, more markets, more currencies, more products, and more volume. These are the drivers of our business that compound quarter after quarter and carry us through the cycle.
This quarter, those drivers showed up in specific, tangible ways. The Abu Dhabi team putting their first transaction on the table with Emirates. The colleagues who fully onboarded Deutsche Bank as our new USD and Euro clearing partner. The first flows with a major Chinese payment client, and a first corporate trade with TotalEnergies. A new partnership with Bank of America via AbbeyCross, and the opening move into South Korea alongside Hana Bank.
Neeraj Kapur, our CEO, commented:
“Q1 2026 represents our best income performance since IPO and a clear demonstration that our strategy is working. We are growing faster, diversifying the business and deepening relationships with global banks and corporates, despite a volatile external environment.
“The momentum from 2025 is translating into robust growth and expanding client activity and we see meaningful opportunities to create long-term value for our shareholders.”
The trading statement comes ahead of our 2026 AGM on 29 April, where we look forward to engaging with shareholders. We expect to publish our half-year results on 6 August.
