Chief executive Noel Quinn made the pledge as he seeks to head off calls from China’s Ping An Insurance Group – which owns around 9.2% of HSBC’s shares – to spin off its burgeoning Asian arm from the UK business.

The group reported a 15%, or 1.7 billion US dollar (£1.4 billion), drop in first-half pre-tax profits to 9.2 billion US dollars (£7.5 billion) for the six months to June 30 as it joined rivals in setting aside cash to cover potential loan losses, booking a 1.1 billion US dollar (£902 million) charge.

NatWest investors to share £1.8bn special dividend as profits rise

Banking giant HSBC has vowed to return shareholder dividend payouts to pre-pandemic levels “as soon as possible” as it comes under pressure from its biggest investor to break up the group.

It said this partly reflected “heightened economic uncertainty and inflation” as soaring cost pressures hit the UK and wider global economy.

But the profit out-turn was better than expected and the group promised it will revert to paying quarterly dividends next year.

Mr Quinn said: “We understand and appreciate the importance of dividends to all of our shareholders.

“We will aim to restore the dividend to pre-Covid-19 levels as soon as possible.

“We also intend to revert to quarterly dividends in 2023.”

Banking giant HSBC makes dividend pledge amid break-up pressure