Contents
|
||||
1
|
Group
Chief Executive statement
|
|
22
|
-
Credit risk
|
1
|
Financial
performance (3Q23 vs. 3Q22)
|
|
32
|
-
Capital risk
|
1
|
Financial
performance (9M23 vs. 9M22)
|
|
36
|
Alternative performance measures
|
2
|
Outlook
|
|
36
|
-
Use of alternative performance measures
|
3
|
Business highlights
|
|
36
|
-
Return on equity/return on average tangible equity
|
4
|
Financial
summary
|
|
37
|
-
Net asset value and tangible net asset value per ordinary
share
|
4
|
-
Basis of preparation
|
|
38
|
-
Expected credit losses and other credit impairment charges
as
% of average gross loans and advances to customers
|
5
|
-
Constant currency performance
|
|
|
|
5
|
-
Disposal groups and business acquisitions
|
|
38
|
-
Target basis operating expenses
|
7
|
-
Key financial metrics
|
|
39
|
-
Earnings per share excluding material notable items and
related
impacts
|
8
|
-
Summary consolidated income statement
|
|
|
|
9
|
-
Distribution of results by global business and legal
entity
|
|
39
|
-
Reported and constant currency results
|
10
|
-
Income statement commentary
|
|
52
|
Additional
information
|
14
|
-
Summary consolidated balance sheet
|
|
52
|
-
Dividends
|
15
|
-
Balance sheet commentary
|
|
53
|
-
Investor relations/media relations contacts
|
16
|
-
Global businesses
|
|
53
|
-
Cautionary statement regarding forward-looking
statements
|
22
|
Risk
|
|
53
|
-
Abbreviations
|
22
|
-
Managing risk
|
|
|
|
Financial
summary
|
|
Nine months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
Reported results
|
|
|
|
|
|
Profit before tax ($m)
|
29,371
|
12,009
|
7,714
|
8,771
|
3,229
|
Profit after tax ($m)
|
24,337
|
11,588
|
6,266
|
7,045
|
2,657
|
Cost efficiency ratio (%)
|
44.2
|
66.3
|
49.3
|
47.1
|
67.7
|
Net interest margin (%)
|
1.70
|
1.33
|
1.70
|
1.72
|
1.51
|
Basic earnings per share ($)
|
1.15
|
0.50
|
0.29
|
0.34
|
0.10
|
Diluted earnings per share ($)
|
1.14
|
0.50
|
0.29
|
0.34
|
0.10
|
Dividend per ordinary share (in respect of the period)
($)
|
0.30
|
0.09
|
0.10
|
0.10
|
-
|
|
|
|
|
|
|
Alternative performance measures
|
|
|
|
|
|
Constant currency profit before tax ($m)
|
29,371
|
11,528
|
7,714
|
8,698
|
3,124
|
Constant currency cost efficiency ratio (%)
|
44.2
|
66.5
|
49.3
|
47.1
|
68.3
|
Expected credit losses and other credit impairment charges
(annualised) as % of average gross loans and advances to customers
(%)
|
0.34
|
0.29
|
0.45
|
0.38
|
0.43
|
Expected credit losses and other credit impairment charges
(annualised) as % of average gross loans and advances to customers,
including held for sale (%)
|
0.32
|
0.29
|
0.42
|
0.36
|
0.42
|
Basic
earnings per share excluding material notable items and related
impacts ($)
|
0.97
|
0.49
|
0.27
|
0.34
|
0.20
|
Return on average ordinary shareholders' equity (annualised)
(%)
|
18.3
|
8.4
|
13.5
|
15.9
|
5.2
|
Return on average tangible equity (annualised) (%)
|
19.7
|
9.4
|
14.6
|
17.1
|
6.8
|
Return
on average tangible equity excluding strategic transactions
(annualised) (%)
|
17.1
|
11.0
|
14.3
|
17.3
|
11.9
|
Target
basis operating expenses ($m)
|
23,134
|
21,995
|
7,815
|
7,811
|
7,312
|
|
At
|
||
|
30 Sep
|
30 Jun
|
31 Dec
|
|
2023
|
2023
|
2022
|
Balance sheet
|
|
|
|
Total assets ($m)
|
3,020,611
|
3,041,476
|
2,949,286
|
Net loans and advances to customers ($m)
|
935,750
|
959,558
|
923,561
|
Customer accounts ($m)
|
1,563,127
|
1,595,769
|
1,570,303
|
Average interest-earning assets, year to date ($m)
|
2,160,881
|
2,162,662
|
2,143,754
|
Loans and advances to customers as % of customer accounts
(%)
|
59.9
|
60.1
|
58.8
|
Total shareholders' equity ($m)
|
182,720
|
184,170
|
177,833
|
Tangible ordinary shareholders' equity ($m)
|
153,447
|
153,234
|
146,927
|
Net asset value per ordinary share at period end ($)
|
8.56
|
8.44
|
8.01
|
Tangible net asset value per ordinary share at period end
($)
|
7.96
|
7.84
|
7.44
|
Capital, leverage and liquidity
|
|
|
|
Common
equity tier 1 capital ratio (%)1,2
|
14.9
|
14.7
|
14.2
|
Risk-weighted
assets ($m)1,2
|
840,049
|
859,545
|
839,720
|
Total
capital ratio (%)1,2
|
19.7
|
19.8
|
19.3
|
Leverage
ratio (%)1,2
|
5.7
|
5.8
|
5.8
|
High-quality
liquid assets (liquidity value) ($m)2,3
|
641,068
|
631,213
|
647,046
|
Liquidity
coverage ratio (%)2,3
|
134
|
132
|
132
|
Share count
|
|
|
|
Period end basic number of $0.50 ordinary shares outstanding
(millions)
|
19,275
|
19,534
|
19,739
|
Period end basic number of $0.50 ordinary shares outstanding and
dilutive potential ordinary shares (millions)
|
19,433
|
19,679
|
19,876
|
Average basic number of $0.50 ordinary shares outstanding
(millions)
|
19,596
|
19,693
|
19,849
|
|
Nine
months ended1
|
Quarter
ended1
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Net interest income
|
27,512
|
21,391
|
9,248
|
9,305
|
8,006
|
Net fee income
|
9,088
|
9,080
|
3,003
|
3,081
|
2,852
|
Net income from financial instruments held for trading or managed
on a fair value basis
|
12,564
|
7,615
|
4,452
|
3,999
|
2,758
|
Net income/(expense) from assets and liabilities of insurance
businesses, including related derivatives, measured at fair value
through profit or loss
|
1,738
|
(16,112)
|
(2,566)
|
411
|
(4,262)
|
Insurance
finance (expense)/income
|
(1,703)
|
15,952
|
2,531
|
(323)
|
4,179
|
Insurance service result
|
696
|
570
|
172
|
242
|
200
|
Gain on
acquisitions2
|
1,593
|
-
|
86
|
(4)
|
-
|
Impairment
loss relating to the planned sale of our retail banking operations
in France3
|
2,130
|
(2,301)
|
-
|
-
|
(2,301)
|
Other
operating (expense)/income
|
(581)
|
(142)
|
(765)
|
(6)
|
76
|
Net operating income before change in expected credit losses and
other credit impairment charges4
|
53,037
|
36,053
|
16,161
|
16,705
|
11,508
|
Change in expected credit losses and other credit impairment
charges
|
(2,416)
|
(2,155)
|
(1,071)
|
(913)
|
(1,068)
|
Net operating income
|
50,621
|
33,898
|
15,090
|
15,792
|
10,440
|
Total operating expenses excluding impairment of goodwill and other
intangible assets
|
(23,720)
|
(23,837)
|
(7,967)
|
(8,165)
|
(7,786)
|
Impairment of goodwill and other intangible assets
|
295
|
(83)
|
(1)
|
294
|
(7)
|
Operating profit
|
27,196
|
9,978
|
7,122
|
7,921
|
2,647
|
Share of profit in associates and joint ventures
|
2,175
|
2,031
|
592
|
850
|
582
|
Profit before tax
|
29,371
|
12,009
|
7,714
|
8,771
|
3,229
|
Tax expense
|
(5,034)
|
(421)
|
(1,448)
|
(1,726)
|
(572)
|
Profit after tax
|
24,337
|
11,588
|
6,266
|
7,045
|
2,657
|
Attributable to:
|
|
|
|
|
|
- ordinary shareholders of the parent company
|
22,585
|
9,968
|
5,619
|
6,639
|
2,002
|
- other equity holders
|
976
|
1,089
|
434
|
124
|
463
|
- non-controlling interests
|
776
|
531
|
213
|
282
|
192
|
Profit after tax
|
24,337
|
11,588
|
6,266
|
7,045
|
2,657
|
|
$
|
$
|
$
|
$
|
$
|
Basic earnings per share
|
1.15
|
0.50
|
0.29
|
0.34
|
0.10
|
Diluted earnings per share
|
1.14
|
0.50
|
0.29
|
0.34
|
0.10
|
Dividend per ordinary share (paid in the period)
|
0.43
|
0.27
|
0.10
|
0.33
|
0.09
|
|
%
|
%
|
%
|
%
|
%
|
Return on average ordinary shareholders' equity
(annualised)
|
18.3
|
8.4
|
13.5
|
15.9
|
5.2
|
Return on average tangible equity (annualised)
|
19.7
|
9.4
|
14.6
|
17.1
|
6.8
|
Cost efficiency ratio
|
44.2
|
66.3
|
49.3
|
47.1
|
67.7
|
Distribution
of results by global business
|
|||||
|
Nine
months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Constant currency revenue1
|
|
|
|
|
|
Wealth and Personal Banking
|
22,919
|
13,992
|
6,719
|
7,203
|
3,934
|
Commercial
Banking2
|
17,640
|
11,496
|
5,424
|
5,504
|
4,441
|
Global
Banking and Markets2
|
12,388
|
11,253
|
3,887
|
4,017
|
3,794
|
Corporate Centre
|
90
|
(1,519)
|
131
|
(117)
|
(594)
|
Total
|
53,037
|
35,222
|
16,161
|
16,607
|
11,575
|
Constant currency profit/(loss) before tax
|
|
|
|
|
|
Wealth and Personal Banking
|
11,369
|
2,600
|
2,777
|
3,327
|
113
|
Commercial
Banking2
|
10,787
|
5,532
|
2,848
|
3,110
|
2,100
|
Global
Banking and Markets2
|
4,904
|
4,114
|
1,324
|
1,498
|
1,421
|
Corporate Centre
|
2,311
|
(718)
|
765
|
763
|
(510)
|
Total
|
29,371
|
11,528
|
7,714
|
8,698
|
3,124
|
Distribution
of results by legal entity
|
|||||
|
Nine
months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Reported profit/(loss) before tax
|
|
|
|
|
|
HSBC UK Bank plc
|
6,569
|
3,347
|
1,778
|
1,660
|
1,077
|
HSBC Bank plc
|
4,405
|
(1,039)
|
907
|
784
|
(1,291)
|
The Hongkong and Shanghai Banking Corporation Limited
|
15,000
|
9,146
|
4,083
|
5,068
|
3,412
|
HSBC Bank Middle East Limited
|
1,023
|
549
|
350
|
296
|
171
|
HSBC North America Holdings Inc.
|
886
|
621
|
185
|
394
|
197
|
HSBC Bank Canada
|
695
|
613
|
220
|
236
|
228
|
Grupo Financiero HSBC, S.A. de C.V.
|
658
|
443
|
222
|
221
|
204
|
Other
trading entities1
|
1,740
|
994
|
458
|
789
|
462
|
- of which: other Middle East entities (including Oman,
Türkiye, Egypt and Saudi
Arabia)
|
542
|
506
|
120
|
281
|
242
|
- of which: Saudi Awwal Bank
|
391
|
209
|
118
|
162
|
93
|
Holding
companies, shared service centres and intra-Group
eliminations
|
(1,605)
|
(2,665)
|
(489)
|
(677)
|
(1,231)
|
Total
|
29,371
|
12,009
|
7,714
|
8,771
|
3,229
|
Constant currency profit/(loss) before tax
|
|
|
|
|
|
HSBC UK Bank plc
|
6,569
|
3,319
|
1,778
|
1,677
|
1,160
|
HSBC Bank plc
|
4,405
|
(1,086)
|
907
|
788
|
(1,381)
|
The Hongkong and Shanghai Banking Corporation Limited
|
15,000
|
8,888
|
4,083
|
5,023
|
3,357
|
HSBC Bank Middle East Limited
|
1,023
|
551
|
350
|
297
|
172
|
HSBC North America Holdings Inc.
|
886
|
620
|
185
|
394
|
197
|
HSBC Bank Canada
|
695
|
585
|
220
|
236
|
222
|
Grupo Financiero HSBC, S.A. de C.V.
|
658
|
509
|
222
|
228
|
242
|
Other
trading entities1
|
1,740
|
842
|
458
|
734
|
388
|
- of which: other Middle East entities (including Oman,
Türkiye, Egypt and Saudi Arabia)
|
542
|
384
|
120
|
260
|
187
|
- of which: Saudi Awwal Bank
|
391
|
209
|
118
|
162
|
93
|
Holding
companies, shared service centres and intra-Group
eliminations
|
(1,605)
|
(2,700)
|
(489)
|
(679)
|
(1,233)
|
Total
|
29,371
|
11,528
|
7,714
|
8,698
|
3,124
|
Movement
in reported profit compared with 3Q22
|
|||||
|
Quarter ended
|
||||
|
30 Sep
|
30 Sep
|
Variance
|
||
|
2023
|
2022
|
3Q23 vs. 3Q22
|
Impact of FX
|
|
|
$m
|
$m
|
$m
|
%
|
%
|
Revenue
|
16,161
|
11,508
|
4,653
|
40
|
1
|
ECL
|
(1,071)
|
(1,068)
|
(3)
|
-
|
3
|
Operating expenses
|
(7,968)
|
(7,793)
|
(175)
|
(2)
|
1
|
Share of profit/(loss) from associates and JVs
|
592
|
582
|
10
|
2
|
(5)
|
Profit before tax
|
7,714
|
3,229
|
4,485
|
>100
|
(8)
|
Tax expense
|
(1,448)
|
(572)
|
(876)
|
>(100)
|
|
Profit after tax
|
6,266
|
2,657
|
3,609
|
>100
|
|
Notable
items
|
||
|
Quarter ended
|
|
|
30 Sep
|
30 Sep
|
|
2023
|
2022
|
|
$m
|
$m
|
Revenue
|
|
|
Disposals,
acquisitions and related costs
|
310
|
(2,378)
|
Fair
value movements on financial instruments1
|
-
|
(282)
|
Restructuring
and other related costs
|
-
|
(31)
|
Disposal
losses on Markets Treasury repositioning
|
(578)
|
-
|
Currency
translation on revenue notable items
|
-
|
(120)
|
Operating expenses
|
|
|
Disposals,
acquisitions and related costs
|
(79)
|
(9)
|
Restructuring
and other related costs
|
30
|
(682)
|
Currency
translation on operating expenses notable items
|
-
|
(26)
|
Movement
in profit before tax compared with 3Q22 - on a constant currency
basis
|
||||
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
Variance
|
|
|
2023
|
2022
|
3Q23 vs. 3Q22
|
|
|
$m
|
$m
|
$m
|
%
|
Revenue
|
16,161
|
11,575
|
4,586
|
40
|
ECL
|
(1,071)
|
(1,103)
|
32
|
3
|
Operating expenses
|
(7,968)
|
(7,902)
|
(66)
|
(1)
|
Share of profit from associates and JVs
|
592
|
554
|
38
|
7
|
Profit before tax
|
7,714
|
3,124
|
4,590
|
>100
|
Movement
in reported profit compared with 9M22
|
|
||||
|
Nine
months ended
|
|
|||
|
30 Sep
|
30 Sep
|
Variance
|
Impact of FX
|
|
|
2023
|
2022
|
9M23 vs. 9M22
|
||
|
$m
|
$m
|
$m
|
%
|
%
|
Revenue
|
53,037
|
36,053
|
16,984
|
47
|
(4)
|
ECL
|
(2,416)
|
(2,155)
|
(261)
|
(12)
|
1
|
Operating expenses
|
(23,425)
|
(23,920)
|
495
|
2
|
(2)
|
Share of profit from associates and JVs
|
2,175
|
2,031
|
144
|
7
|
(6)
|
Profit before tax
|
29,371
|
12,009
|
17,362
|
>100
|
(10)
|
Tax expense
|
(5,034)
|
(421)
|
(4,613)
|
>(100)
|
|
Profit after tax
|
24,337
|
11,588
|
12,749
|
>100
|
|
Notable
items
|
||
|
Nine
months ended
|
|
|
30 Sep
|
30 Sep
|
|
2023
|
2022
|
|
$m
|
$m
|
Revenue
|
|
|
Disposals,
acquisitions and related costs
|
3,631
|
(2,666)
|
Fair
value movements on financial instruments1
|
15
|
(653)
|
Restructuring
and other related costs
|
-
|
37
|
Disposal
losses on Markets Treasury repositioning
|
(578)
|
-
|
Currency
translation on revenue notable items
|
-
|
(105)
|
Operating expenses
|
|
|
Disposals,
acquisitions and related costs
|
(197)
|
(9)
|
Restructuring
and other related costs
|
77
|
(1,722)
|
Currency
translation on operating expenses notable items
|
-
|
5
|
Movement
in profit before tax compared with 9M22 - on a constant currency
basis
|
||||
|
Nine months ended
|
|||
|
30 Sep
|
30 Sep
|
Variance
|
|
|
2023
|
2022
|
9M23 vs. 9M22
|
|
|
$m
|
$m
|
$m
|
%
|
Revenue
|
53,037
|
35,222
|
17,815
|
51
|
ECL
|
(2,416)
|
(2,177)
|
(239)
|
(11)
|
Operating expenses
|
(23,425)
|
(23,434)
|
9
|
-
|
Share of profit from associates and JVs
|
2,175
|
1,917
|
258
|
13
|
Profit before tax
|
29,371
|
11,528
|
17,843
|
>100
|
|
Nine months ended
|
Quarter
ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Net interest income
|
27,512
|
21,391
|
9,248
|
9,305
|
8,006
|
Average interest-earning assets
|
2,160,881
|
2,153,101
|
2,157,370
|
2,172,324
|
2,110,419
|
|
%
|
%
|
%
|
%
|
%
|
Gross
interest yield1
|
4.59
|
2.10
|
5.00
|
4.59
|
2.65
|
Less:
gross interest payable1
|
(3.35)
|
(0.92)
|
(3.80)
|
(3.33)
|
(1.36)
|
Net
interest spread2
|
1.24
|
1.18
|
1.20
|
1.26
|
1.29
|
Net
interest margin3
|
1.70
|
1.33
|
1.70
|
1.72
|
1.51
|
|
Nine
months ended
|
Quarter
ended
|
|||
|
30 Sep
|
30
Sep
|
30 Sep
|
30
Jun
|
30
Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
Net interest income
|
27.5
|
21.4
|
9.2
|
9.3
|
8.0
|
Banking book funding costs used to generate 'net income from
financial instruments held for trading or managed on a fair value
basis'
|
6.1
|
1.2
|
2.4
|
2.4
|
0.8
|
Third-party net interest income from insurance
|
(0.3)
|
(0.3)
|
(0.1)
|
(0.1)
|
(0.1)
|
Banking net interest income
|
33.3
|
22.3
|
11.5
|
11.6
|
8.7
|
|
At1
|
||
|
30 Sep
|
30 Jun
|
31 Dec
|
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
Assets
|
|
|
|
Cash and balances at central banks
|
298,779
|
307,733
|
327,002
|
Trading assets
|
249,189
|
255,387
|
218,093
|
Financial assets designated and otherwise mandatorily measured at
fair value through profit or loss
|
102,778
|
104,303
|
100,101
|
Derivatives
|
273,070
|
272,595
|
284,159
|
Loans and advances to banks
|
107,103
|
100,921
|
104,475
|
Loans and advances to customers
|
935,750
|
959,558
|
923,561
|
Reverse repurchase agreements - non-trading
|
249,092
|
258,056
|
253,754
|
Financial investments
|
427,575
|
407,933
|
364,726
|
Assets held for sale
|
85,833
|
95,480
|
115,919
|
Other assets
|
291,442
|
279,510
|
257,496
|
Total assets
|
3,020,611
|
3,041,476
|
2,949,286
|
Liabilities and equity
|
|
|
|
Liabilities
|
|
|
|
Deposits by banks
|
72,219
|
68,709
|
66,722
|
Customer accounts
|
1,563,127
|
1,595,769
|
1,570,303
|
Repurchase agreements - non-trading
|
181,146
|
170,110
|
127,747
|
Trading liabilities
|
79,810
|
81,228
|
72,353
|
Financial liabilities designated at fair value
|
141,482
|
139,618
|
127,321
|
Derivatives
|
265,679
|
269,560
|
285,762
|
Debt securities in issue
|
89,107
|
85,471
|
78,149
|
Insurance contract liabilities
|
112,963
|
115,756
|
108,816
|
Liabilities of disposal groups held for sale
|
78,299
|
87,241
|
114,597
|
Other liabilities
|
246,939
|
236,363
|
212,319
|
Total liabilities
|
2,830,771
|
2,849,825
|
2,764,089
|
Equity
|
|
|
|
Total shareholders' equity
|
182,720
|
184,170
|
177,833
|
Non-controlling interests
|
7,120
|
7,481
|
7,364
|
Total equity
|
189,840
|
191,651
|
185,197
|
Total liabilities and equity
|
3,020,611
|
3,041,476
|
2,949,286
|
Combined
view of customer lending and customer deposits
|
|||
|
At
|
||
|
30 Sep
|
30 Jun
|
31 Dec
|
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
Loans and advances to customers
|
935,750
|
959,558
|
923,561
|
- of
which: HSBC Innovation Bank Limited (formerly SVB
UK)
|
7,333
|
7,040
|
-
|
Loans and advances to customers of disposal groups reported in
'Assets held for sale'
|
55,951
|
59,210
|
80,576
|
- banking
business in Canada
|
54,602
|
55,932
|
55,197
|
- retail
banking operations in France
|
-
|
-
|
25,029
|
- other
|
1,349
|
3,278
|
350
|
Non-current
assets held for sale
|
1,292
|
659
|
112
|
Combined customer lending
|
992,993
|
1,019,427
|
1,004,249
|
Currency translation
|
-
|
(19,220)
|
(4,982)
|
Combined customer lending at constant currency
|
992,993
|
1,000,207
|
999,267
|
Customer accounts
|
1,563,127
|
1,595,769
|
1,570,303
|
- of
which: HSBC Innovation Bank Limited (formerly SVB
UK)
|
6,033
|
7,220
|
-
|
Customer accounts reported in 'Liabilities of disposal groups held
for sale'
|
59,250
|
66,154
|
85,274
|
- banking
business in Canada
|
59,247
|
59,813
|
60,606
|
- retail
banking operations in France
|
-
|
-
|
22,348
|
- other
|
3
|
6,341
|
2,320
|
Combined customer deposits
|
1,622,377
|
1,661,923
|
1,655,577
|
Currency translation
|
-
|
(30,854)
|
(8,156)
|
Combined customer deposits at constant currency
|
1,622,377
|
1,631,069
|
1,647,421
|
Management
view of revenue
|
|||||||
|
Nine months ended
|
Quarter ended
|
|||||
|
30 Sep
|
30 Sep
|
Variance
|
30 Sep
|
30 Jun
|
30 Sep
|
|
|
2023
|
2022
|
9M23 vs. 9M22
|
2023
|
2023
|
2022
|
|
|
$m
|
$m
|
$m
|
%
|
$m
|
$m
|
$m
|
Wealth
|
5,815
|
5,172
|
643
|
12
|
1,894
|
1,957
|
1,787
|
- investment distribution
|
1,964
|
1,917
|
47
|
2
|
683
|
643
|
653
|
- Global Private Banking
|
1,716
|
1,488
|
228
|
15
|
575
|
572
|
546
|
net interest income
|
876
|
667
|
209
|
31
|
296
|
289
|
280
|
non-interest income
|
840
|
821
|
19
|
2
|
279
|
283
|
266
|
- life insurance
|
1,186
|
928
|
258
|
28
|
311
|
425
|
276
|
- asset management
|
949
|
839
|
110
|
13
|
325
|
317
|
312
|
Personal Banking
|
15,499
|
10,873
|
4,626
|
43
|
5,282
|
5,252
|
4,374
|
- net interest income
|
14,517
|
9,891
|
4,626
|
47
|
4,960
|
4,899
|
4,034
|
- non-interest income
|
982
|
982
|
-
|
-
|
322
|
353
|
340
|
Other1
|
1,605
|
(2,053)
|
3,658
|
>100
|
(457)
|
(6)
|
(2,227)
|
- of which: impairment (loss)/reversal relating to the
planned sale of our retail banking operations in
France
|
2,034
|
(2,349)
|
4,383
|
>100
|
-
|
14
|
(2,349)
|
Net operating income2
|
22,919
|
13,992
|
8,927
|
64
|
6,719
|
7,203
|
3,934
|
RoTE
(annualised)3 (%)
|
37.3
|
9.5
|
|
|
|
|
|
Notable
items
|
||||
|
Nine
months ended
|
Quarter
ended
|
||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Sep
|
|
2023
|
2022
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
Disposals,
acquisitions and related costs
|
2,034
|
(2,205)
|
-
|
(2,205)
|
Fair
value movements on financial instruments
|
-
|
-
|
-
|
-
|
Restructuring
and other related costs
|
-
|
98
|
-
|
5
|
Disposal
losses on Markets Treasury repositioning
|
(253)
|
-
|
(253)
|
-
|
Currency
translation on revenue notable items
|
-
|
(144)
|
-
|
(143)
|
Operating expenses
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(26)
|
(4)
|
(3)
|
(4)
|
Restructuring
and other related costs
|
16
|
(175)
|
16
|
(62)
|
Currency
translation on operating expenses notable items
|
-
|
3
|
-
|
(3)
|
Management
view of revenue
|
|||||||
|
Nine months ended
|
Quarter ended
|
|||||
|
30 Sep
|
30 Sep
|
Variance
|
30 Sep
|
30 Jun
|
30 Sep
|
|
|
2023
|
2022
|
9M23 vs. 9M22
|
2023
|
2023
|
2022
|
|
|
$m
|
$m
|
$m
|
%
|
$m
|
$m
|
$m
|
Global Trade and Receivables Finance
|
1,546
|
1,579
|
(33)
|
(2)
|
520
|
510
|
527
|
Credit and Lending
|
4,084
|
4,360
|
(276)
|
(6)
|
1,339
|
1,372
|
1,453
|
Global Payments Solutions
|
9,166
|
4,320
|
4,846
|
>100
|
3,199
|
3,037
|
1,968
|
GBM
products, Insurance and Investments, and Other1
|
2,844
|
1,237
|
1,607
|
>100
|
366
|
585
|
493
|
- of which: share of revenue from Markets and Securities
Services and Banking products
|
981
|
901
|
80
|
9
|
323
|
319
|
309
|
- of which: provisional gain on the acquisition of Silicon
Valley Bank UK Limited
|
1,593
|
-
|
1,593
|
>100
|
86
|
-
|
-
|
Net operating income2
|
17,640
|
11,496
|
6,144
|
53
|
5,424
|
5,504
|
4,441
|
RoTE
(annualised)3 (%)
|
25.8
|
13.3
|
|
|
|
|
|
Notable
items
|
||||
|
Nine
months ended
|
Quarter
ended
|
||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Sep
|
|
2023
|
2022
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
Disposals,
acquisitions and related costs
|
1,593
|
-
|
86
|
-
|
Fair
value movements on financial instruments
|
-
|
-
|
-
|
-
|
Restructuring
and other related costs
|
-
|
(1)
|
-
|
(1)
|
Disposal
losses on Markets Treasury repositioning
|
(190)
|
|
(190)
|
|
Currency
translation on revenue notable items
|
-
|
-
|
-
|
1
|
Operating expenses
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(30)
|
-
|
(15)
|
-
|
Restructuring
and other related costs
|
30
|
(124)
|
1
|
(58)
|
Currency
translation on operating expenses notable items
|
-
|
-
|
-
|
(1)
|
Management
view of revenue
|
|||||||
|
Nine months ended
|
Quarter ended
|
|||||
|
30 Sep
|
30 Sep
|
Variance
|
30 Sep
|
30 Jun
|
30 Sep
|
|
|
2023
|
2022
|
9M23 vs. 9M22
|
2023
|
2023
|
2022
|
|
|
$m
|
$m
|
$m
|
%
|
$m
|
$m
|
$m
|
Markets and Securities Services
|
6,921
|
6,955
|
(34)
|
-
|
2,158
|
2,171
|
2,297
|
- Securities Services
|
1,835
|
1,456
|
379
|
26
|
615
|
619
|
523
|
- Global Debt Markets
|
746
|
532
|
214
|
40
|
158
|
238
|
110
|
- Global Foreign Exchange
|
3,153
|
3,198
|
(45)
|
(1)
|
928
|
990
|
1,061
|
- Equities
|
403
|
867
|
(464)
|
(54)
|
167
|
92
|
272
|
- Securities Financing
|
815
|
706
|
109
|
15
|
302
|
252
|
248
|
- Credit and funding valuation adjustments
|
(31)
|
196
|
(227)
|
>(100)
|
(12)
|
(20)
|
83
|
Banking
|
6,431
|
4,800
|
1,631
|
34
|
2,158
|
2,135
|
1,703
|
- Global Trade and Receivables Finance
|
505
|
505
|
-
|
-
|
164
|
161
|
173
|
- Global Payments Solutions
|
3,324
|
1,841
|
1,483
|
81
|
1,127
|
1,120
|
798
|
- Credit and Lending
|
1,493
|
1,697
|
(204)
|
(12)
|
506
|
486
|
527
|
- Capital Markets and Advisory
|
812
|
606
|
206
|
34
|
254
|
253
|
182
|
-
Other1
|
297
|
151
|
146
|
97
|
107
|
115
|
23
|
GBM Other
|
(964)
|
(502)
|
(462)
|
(1)
|
(429)
|
(289)
|
(206)
|
- Principal Investments
|
14
|
58
|
(44)
|
(76)
|
1
|
17
|
(20)
|
-
Other2
|
(978)
|
(560)
|
(418)
|
(75)
|
(430)
|
(306)
|
(186)
|
Net operating income3
|
12,388
|
11,253
|
1,135
|
10
|
3,887
|
4,017
|
3,794
|
RoTE
(annualised) (%)
|
12.9
|
11.6
|
|
|
|
|
|
Notable
items
|
||||
|
Nine
months ended
|
Quarter
ended
|
||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Sep
|
|
2023
|
2022
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
Disposals,
acquisitions and related costs
|
-
|
-
|
-
|
-
|
Fair
value movements on financial instruments
|
-
|
-
|
-
|
-
|
Restructuring
and other related costs
|
-
|
(61)
|
-
|
(35)
|
Disposal
losses on Markets Treasury repositioning
|
(135)
|
|
(135)
|
|
Currency
translation on revenue notable items
|
-
|
1
|
-
|
-
|
Operating expenses
|
|
|
|
|
Disposals,
acquisitions and related costs
|
3
|
-
|
-
|
-
|
Restructuring
and other related costs
|
4
|
(137)
|
4
|
(50)
|
Currency
translation on operating expenses notable items
|
-
|
-
|
-
|
(3)
|
Management
view of revenue
|
|||||||
|
Nine months ended
|
Quarter ended
|
|||||
|
30 Sep
|
30 Sep
|
Variance
|
30 Sep
|
30 Jun
|
30 Sep
|
|
|
2023
|
2022
|
9M23 vs. 9M22
|
2023
|
2023
|
2022
|
|
|
$m
|
$m
|
$m
|
%
|
$m
|
$m
|
$m
|
Central
Treasury1
|
98
|
(730)
|
828
|
>100
|
17
|
(21)
|
(352)
|
Legacy portfolios
|
(4)
|
(1)
|
(3)
|
>(100)
|
7
|
(9)
|
(7)
|
Other2,3
|
(4)
|
(788)
|
784
|
99
|
107
|
(87)
|
(235)
|
Net operating income4
|
90
|
(1,519)
|
1,609
|
>100
|
131
|
(117)
|
(594)
|
RoTE
(annualised) (%)
|
7.3
|
2.3
|
|
|
|
|
|
Notable
items
|
||||
|
Nine
months ended
|
Quarter
ended
|
||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Sep
|
|
2023
|
2022
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
Disposals,
acquisitions and related costs1
|
4
|
(461)
|
224
|
(173)
|
Fair
value movements on financial instruments2
|
15
|
(653)
|
-
|
(282)
|
Restructuring
and other related costs
|
-
|
1
|
-
|
-
|
Disposal
losses on Markets Treasury repositioning
|
-
|
|
-
|
|
Currency
translation on revenue notable items
|
-
|
38
|
-
|
22
|
Operating expenses
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(144)
|
(5)
|
(61)
|
(5)
|
Restructuring
and other related costs
|
27
|
(1,286)
|
9
|
(512)
|
Currency
translation on operating expenses notable items
|
-
|
2
|
-
|
(19)
|
Risk
|
Summary
of financial instruments to which the impairment requirements in
IFRS 9 are applied
|
||||
|
At 30 Sep 2023
|
At 31 Dec 2022
|
||
|
Gross carrying/nominal amount
|
Allowance for
ECL1
|
Gross carrying/nominal amount
|
Allowance
for
ECL1
|
|
$m
|
$m
|
$m
|
$m
|
Loans and advances to customers at amortised cost
|
946,961
|
(11,211)
|
935,008
|
(11,447)
|
Loans and advances to banks at amortised cost
|
107,213
|
(110)
|
104,544
|
(69)
|
Other financial assets measured at amortised cost
|
956,446
|
(361)
|
954,934
|
(493)
|
- cash and balances at central banks
|
298,780
|
(1)
|
327,005
|
(3)
|
- items in the course of collection from other
banks
|
6,698
|
-
|
7,297
|
-
|
- Hong Kong Government certificates of
indebtedness
|
41,834
|
-
|
43,787
|
-
|
- reverse repurchase agreements - non-trading
|
249,092
|
-
|
253,754
|
-
|
- financial investments
|
137,822
|
(23)
|
109,086
|
(20)
|
-
assets held for sale2
|
73,245
|
(266)
|
102,556
|
(415)
|
-
other assets3
|
148,975
|
(71)
|
111,449
|
(55)
|
Total gross carrying amount on-balance sheet
|
2,010,620
|
(11,682)
|
1,994,486
|
(12,009)
|
Loan and other credit-related commitments
|
647,486
|
(346)
|
618,788
|
(386)
|
Financial guarantees
|
16,540
|
(46)
|
18,783
|
(52)
|
Total nominal amount off-balance sheet4
|
664,026
|
(392)
|
637,571
|
(438)
|
|
2,674,646
|
(12,074)
|
2,632,057
|
(12,447)
|
|
|
|
|
|
|
Fairvalue
|
Memorandum allowance for ECL5
|
Fairvalue
|
Memorandum
allowance
for ECL5
|
|
$m
|
$m
|
$m
|
$m
|
Debt instruments measured at fair value through other comprehensive
income ('FVOCI')
|
298,200
|
(73)
|
265,147
|
(126)
|
Summary of credit risk (excluding debt instruments measured at
FVOCI) by stage distribution and ECL coverage at 30 September
2023
|
|||||||||||||||
|
Gross carrying/nominal amount1
|
Allowance for ECL
|
ECL coverage %
|
||||||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
%
|
%
|
%
|
%
|
%
|
Loans and advances to customers at amortised cost
|
795,001
|
132,619
|
19,251
|
90
|
946,961
|
(1,116)
|
(3,100)
|
(6,972)
|
(23)
|
(11,211)
|
0.1
|
2.3
|
36.2
|
25.6
|
1.2
|
Loans and advances to banks at amortised cost
|
106,411
|
721
|
81
|
-
|
107,213
|
(14)
|
(34)
|
(62)
|
-
|
(110)
|
-
|
4.7
|
76.5
|
-
|
0.1
|
Other financial assets measured at amortised cost
|
944,822
|
11,120
|
504
|
-
|
956,446
|
(105)
|
(125)
|
(131)
|
-
|
(361)
|
-
|
1.1
|
26.0
|
-
|
-
|
Loan and other credit-related commit-ments
|
610,261
|
35,731
|
1,491
|
3
|
647,486
|
(131)
|
(136)
|
(79)
|
-
|
(346)
|
-
|
0.4
|
5.3
|
-
|
0.1
|
Financial guarantees
|
14,574
|
1,735
|
231
|
-
|
16,540
|
(8)
|
(12)
|
(26)
|
-
|
(46)
|
0.1
|
0.7
|
11.3
|
-
|
0.3
|
At 30 Sep 2023
|
2,471,069
|
181,926
|
21,558
|
93
|
2,674,646
|
(1,374)
|
(3,407)
|
(7,270)
|
(23)
|
(12,074)
|
0.1
|
1.9
|
33.7
|
24.7
|
0.5
|
Summary of credit risk (excluding debt instruments measured at
FVOCI) by stage distribution and ECL coverage at 31 December
2022
|
|||||||||||||||
|
Gross
carrying/nominal amount1
|
Allowance for ECL
|
ECL coverage %
|
||||||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
%
|
%
|
%
|
%
|
%
|
Loans and advances to customers at amortised cost
|
776,299
|
139,076
|
19,504
|
129
|
935,008
|
(1,092)
|
(3,488)
|
(6,829)
|
(38)
|
(11,447)
|
0.1
|
2.5
|
35.0
|
29.5
|
1.2
|
Loans and advances to banks at amortised cost
|
102,723
|
1,739
|
82
|
-
|
104,544
|
(18)
|
(29)
|
(22)
|
-
|
(69)
|
-
|
1.7
|
26.8
|
-
|
0.1
|
Other financial assets measured at amortised cost
|
938,798
|
15,339
|
797
|
-
|
954,934
|
(95)
|
(165)
|
(233)
|
-
|
(493)
|
-
|
1.1
|
29.2
|
-
|
0.1
|
Loan and other credit-related commit-ments
|
583,383
|
34,033
|
1,372
|
-
|
618,788
|
(141)
|
(180)
|
(65)
|
-
|
(386)
|
-
|
0.5
|
4.7
|
-
|
0.1
|
Financial guarantees
|
16,071
|
2,463
|
249
|
-
|
18,783
|
(6)
|
(13)
|
(33)
|
-
|
(52)
|
-
|
0.5
|
13.3
|
-
|
0.3
|
At 31 Dec 2022
|
2,417,274
|
192,650
|
22,004
|
129
|
2,632,057
|
(1,352)
|
(3,875)
|
(7,182)
|
(38)
|
(12,447)
|
0.1
|
2.0
|
32.6
|
29.5
|
0.5
|
Consensus
Central scenario
|
||||||||
|
UK
|
US
|
Hong Kong
|
Mainland China
|
Canada
|
France
|
UAE
|
Mexico
|
GDP (annual average growth rate, %)
|
|
|
|
|
|
|
|
|
2023
|
0.2
|
1.8
|
4.4
|
5.2
|
1.5
|
0.6
|
2.9
|
3.0
|
2024
|
0.4
|
0.6
|
3.1
|
4.6
|
0.8
|
1.0
|
3.6
|
1.7
|
2025
|
1.6
|
2.1
|
3.0
|
4.6
|
2.1
|
1.6
|
4.1
|
2.2
|
2026
|
1.8
|
2.1
|
2.7
|
4.4
|
2.0
|
1.6
|
3.8
|
2.3
|
2027
|
1.6
|
2.1
|
2.6
|
3.9
|
1.9
|
1.5
|
3.4
|
2.3
|
5-year
average1
|
1.3
|
1.8
|
3.0
|
4.4
|
1.8
|
1.4
|
3.7
|
2.1
|
Unemployment rate (%)
|
|
|
|
|
|
|
|
|
2023
|
4.2
|
3.8
|
3.1
|
5.2
|
5.4
|
7.2
|
2.6
|
2.9
|
2024
|
4.6
|
4.5
|
3.0
|
5.2
|
6.1
|
7.3
|
2.5
|
3.3
|
2025
|
4.2
|
4.4
|
3.0
|
5.1
|
5.7
|
7.2
|
2.5
|
3.5
|
2026
|
4.1
|
4.2
|
3.0
|
5.1
|
5.6
|
7.2
|
2.5
|
3.4
|
2027
|
4.1
|
4.1
|
3.0
|
5.1
|
5.5
|
7.1
|
2.5
|
3.4
|
5-year
average1
|
4.2
|
4.2
|
3.0
|
5.1
|
5.7
|
7.2
|
2.5
|
3.4
|
House prices (annual average growth rate, %)
|
|
|
|
|
|
|
|
|
2023
|
(0.1)
|
3.1
|
(8.6)
|
(1.5)
|
(8.1)
|
0.1
|
15.8
|
10.7
|
2024
|
(4.7)
|
0.2
|
(3.6)
|
0.7
|
(4.2)
|
0.1
|
10.7
|
6.2
|
2025
|
0.4
|
2.2
|
3.6
|
0.7
|
3.1
|
2.7
|
4.9
|
4.2
|
2026
|
2.5
|
2.5
|
3.0
|
2.8
|
3.7
|
3.9
|
3.4
|
3.9
|
2027
|
3.0
|
2.4
|
3.3
|
3.9
|
2.4
|
4.1
|
3.2
|
3.9
|
5-year
average1
|
0.4
|
1.9
|
1.3
|
2.1
|
1.0
|
2.6
|
5.6
|
4.7
|
Inflation (annual average growth rate, %)
|
|
|
|
|
|
|
|
|
2023
|
7.3
|
4.1
|
2.3
|
0.8
|
3.7
|
5.1
|
3.3
|
5.7
|
2024
|
3.0
|
2.6
|
2.3
|
2.0
|
2.4
|
2.5
|
2.6
|
4.2
|
2025
|
2.1
|
2.3
|
2.2
|
2.1
|
2.0
|
2.0
|
2.1
|
3.6
|
2026
|
2.0
|
2.2
|
2.2
|
2.0
|
2.1
|
1.9
|
2.1
|
3.5
|
2027
|
2.2
|
2.2
|
2.4
|
2.1
|
2.1
|
1.9
|
2.1
|
3.5
|
5-year
average1
|
2.4
|
2.4
|
2.3
|
2.0
|
2.2
|
2.2
|
2.2
|
3.7
|
Consensus
Upside scenario (4Q23-3Q28)
|
||||||||||||||||
|
UK
|
US
|
Hong Kong
|
Mainland China
|
Canada
|
France
|
UAE
|
Mexico
|
||||||||
GDP
level (%, start-to-peak)1
|
10.7
|
(3Q28)
|
15.0
|
(3Q28)
|
22.7
|
(3Q28)
|
30.9
|
(3Q28)
|
15.2
|
(3Q28)
|
10.7
|
(3Q28)
|
28.5
|
(3Q28)
|
17.2
|
(3Q28)
|
Unemployment
rate (%, min)2
|
3.1
|
(1Q25)
|
3.1
|
(2Q24)
|
2.3
|
(2Q24)
|
4.7
|
(2Q24)
|
4.9
|
(3Q25)
|
6.2
|
(3Q25)
|
1.9
|
(2Q24)
|
2.6
|
(2Q24)
|
House
price index (%, start-to-peak)1
|
11.0
|
(3Q28)
|
19.5
|
(3Q28)
|
18.3
|
(3Q28)
|
18.2
|
(3Q28)
|
16.9
|
(3Q28)
|
18.5
|
(3Q28)
|
32.9
|
(3Q28)
|
30.3
|
(3Q28)
|
Inflation
rate (YoY % change, min)3
|
1.2
|
(2Q24)
|
1.1
|
(3Q24)
|
0.7
|
(3Q24)
|
0.0
|
(3Q24)
|
0.9
|
(4Q24)
|
1.0
|
(3Q24)
|
1.3
|
(4Q24)
|
2.7
|
(4Q24)
|
Consensus
Downside scenario (4Q23-3Q28)
|
||||||||||||||||
|
UK
|
US
|
Hong Kong
|
Mainland China
|
Canada
|
France
|
UAE
|
Mexico
|
||||||||
GDP
level (%, start-to-trough)1
|
(1.1)
|
(4Q24)
|
(1.8)
|
(3Q24)
|
(1.6)
|
(4Q24)
|
(1.7)
|
(2Q24)
|
(2.1)
|
(4Q24)
|
(0.3)
|
(2Q24)
|
0.1
|
(4Q23)
|
(0.6)
|
(2Q24)
|
Unemployment
rate (%, max)2
|
5.7
|
(4Q24)
|
6.2
|
(2Q24)
|
4.7
|
(1Q25)
|
6.8
|
(2Q25)
|
7.7
|
(2Q24)
|
8.4
|
(2Q24)
|
3.8
|
(2Q24)
|
4.3
|
(2Q24)
|
House
price index (%, start-to-trough)1
|
(12.1)
|
(2Q25)
|
(3.7)
|
(4Q24)
|
(9.6)
|
(1Q24)
|
(6.3)
|
(4Q25)
|
(14.4)
|
(4Q24)
|
(1.0)
|
(2Q24)
|
0.2
|
(4Q23)
|
1.1
|
(4Q23)
|
Inflation
rate (YoY % change, max)3
|
5.1
|
(3Q24)
|
3.9
|
(3Q24)
|
4.3
|
(2Q24)
|
4.0
|
(2Q24)
|
3.5
|
(2Q24)
|
4.7
|
(4Q23)
|
4.0
|
(4Q23)
|
6.4
|
(2Q24)
|
Downside
2 scenario (4Q23-3Q28)
|
||||||||||||||||
|
UK
|
US
|
Hong Kong
|
Mainland China
|
Canada
|
France
|
UAE
|
Mexico
|
||||||||
GDP
level (%, start-to-trough)1
|
(8.4)
|
(4Q24)
|
(4.9)
|
(4Q24)
|
(9.1)
|
(4Q24)
|
(7.3)
|
(3Q24)
|
(5.9)
|
(4Q24)
|
(7.1)
|
(1Q25)
|
(6.4)
|
(1Q25)
|
(8.4)
|
(4Q24)
|
Unemployment
rate (%, max)2
|
9.6
|
(1Q25)
|
9.6
|
(3Q25)
|
6.5
|
(3Q24)
|
6.9
|
(2Q25)
|
11.9
|
(4Q24)
|
10.2
|
(4Q25)
|
4.2
|
(2Q24)
|
5.4
|
(2Q25)
|
House
price index (%, start-to-trough)1
|
(32.8)
|
(4Q25)
|
(17.1)
|
(3Q24)
|
(23.4)
|
(1Q27)
|
(28.2)
|
(4Q25)
|
(42.5)
|
(2Q25)
|
(12.4)
|
(1Q26)
|
(3.2)
|
(2Q25)
|
1.1
|
(4Q23)
|
Inflation
rate (YoY % change, max)3
|
9.7
|
(1Q24)
|
4.3
|
(1Q24)
|
4.7
|
(2Q24)
|
5.1
|
(2Q24)
|
5.3
|
(1Q24)
|
8.5
|
(1Q24)
|
4.2
|
(4Q23)
|
6.6
|
(2Q24)
|
Scenario
weightings, %
|
|||||||||
|
Standard weights
|
UK
|
US
|
HongKong
|
Mainland China
|
Canada
|
France
|
UAE
|
Mexico
|
3Q23
|
|
|
|
|
|
|
|
|
|
Upside
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
Central
|
75.0
|
75.0
|
75.0
|
75.0
|
75.0
|
75.0
|
75.0
|
75.0
|
75.0
|
Downside
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
Downside 2
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
|
|
|
|
|
|
|
|
|
|
4Q22
|
|
|
|
|
|
|
|
|
|
Upside
|
10.0
|
5.0
|
5.0
|
20.0
|
20.0
|
5.0
|
5.0
|
5.0
|
5.0
|
Central
|
75.0
|
60.0
|
70.0
|
55.0
|
55.0
|
70.0
|
60.0
|
70.0
|
70.0
|
Downside
|
10.0
|
25.0
|
20.0
|
20.0
|
20.0
|
15.0
|
25.0
|
20.0
|
20.0
|
Downside 2
|
5.0
|
10.0
|
5.0
|
5.0
|
5.0
|
10.0
|
10.0
|
5.0
|
5.0
|
Management judgemental adjustments to ECL at 30
September 20231
|
|||
|
Retail
|
Wholesale
|
Total
|
|
$bn
|
$bn
|
$bn
|
Banks, sovereigns, government entities and low-risk
counterparties
|
-
|
-
|
-
|
Corporate lending adjustments
|
|
0.1
|
0.1
|
Retail lending inflation-related adjustments
|
0.1
|
|
0.1
|
Other macroeconomic-related adjustments
|
0.2
|
|
0.2
|
Other retail lending adjustments
|
0.1
|
|
0.1
|
Total
|
0.4
|
0.1
|
0.5
|
Management judgemental adjustments to ECL at 31
December 20221
|
|||
|
Retail
|
Wholesale
|
Total
|
|
$bn
|
$bn
|
$bn
|
Banks, sovereigns, government entities and low-risk
counterparties
|
-
|
|
-
|
Corporate lending adjustments
|
|
0.5
|
0.5
|
Retail lending inflation-related adjustments
|
0.1
|
|
0.1
|
Other macroeconomic-related adjustments
|
0.1
|
|
0.1
|
Other retail lending adjustments
|
0.2
|
|
0.2
|
Total
|
0.3
|
0.5
|
0.8
|
|
Retail1
|
Wholesale2
|
Total Group ECL at 30 September 2023
|
$bn
|
$bn
|
Reported ECL
|
2.9
|
2.6
|
Scenarios
|
|
|
100% consensus Central scenario
|
(0.1)
|
(0.3)
|
100% consensus Upside scenario
|
(0.5)
|
(0.8)
|
100% consensus Downside scenario
|
0.4
|
0.6
|
100% Downside 2 scenario
|
2.1
|
6.3
|
Total Group ECL at 31 December 2022
|
|
|
Reported ECL
|
3.0
|
3.1
|
Scenarios
|
|
|
100% consensus
Central scenario
|
(0.2)
|
(0.5)
|
100% consensus Upside scenario
|
(0.6)
|
(1.1)
|
100% consensus
Downside scenario
|
0.4
|
0.8
|
100% Downside
2 scenario
|
1.8
|
5.5
|
Total
personal lending for loans and advances to customers by stage
distribution
|
||||||||
|
Gross carrying amount
|
Allowance for ECL
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
By legal entity
|
|
|
|
|
|
|
|
|
HSBC UK Bank plc
|
132,003
|
39,740
|
1,032
|
172,775
|
(150)
|
(599)
|
(224)
|
(973)
|
HSBC Bank plc
|
23,771
|
3,085
|
307
|
27,163
|
(14)
|
(23)
|
(96)
|
(133)
|
The
Hongkong and Shanghai Banking Corporation Limited
|
188,983
|
6,902
|
944
|
196,829
|
(152)
|
(392)
|
(160)
|
(704)
|
HSBC Bank Middle East Limited
|
3,504
|
189
|
68
|
3,761
|
(28)
|
(23)
|
(39)
|
(90)
|
HSBC North America Holdings Inc.
|
17,589
|
668
|
371
|
18,628
|
(7)
|
(12)
|
(10)
|
(29)
|
Grupo Financiero HSBC, S.A. de C.V.
|
12,342
|
1,259
|
474
|
14,075
|
(207)
|
(392)
|
(232)
|
(831)
|
Other trading entities
|
11,459
|
327
|
278
|
12,064
|
(31)
|
(36)
|
(79)
|
(146)
|
At 30 Sep 2023
|
389,651
|
52,170
|
3,474
|
445,295
|
(589)
|
(1,477)
|
(840)
|
(2,906)
|
By legal entity
|
|
|
|
|
|
|
|
|
HSBC UK Bank plc
|
128,590
|
37,394
|
1,012
|
166,996
|
(135)
|
(688)
|
(227)
|
(1,050)
|
HSBC Bank plc
|
6,377
|
740
|
127
|
7,244
|
(10)
|
(18)
|
(38)
|
(66)
|
The
Hongkong and Shanghai Banking Corporation Limited
|
185,723
|
8,698
|
1,117
|
195,538
|
(138)
|
(362)
|
(187)
|
(687)
|
HSBC Bank Middle East Limited
|
3,657
|
184
|
86
|
3,927
|
(26)
|
(37)
|
(52)
|
(115)
|
HSBC North America Holdings Inc.
|
16,906
|
375
|
270
|
17,551
|
(12)
|
(23)
|
(6)
|
(41)
|
Grupo Financiero HSBC, S.A. de C.V.
|
9,542
|
1,099
|
377
|
11,018
|
(213)
|
(331)
|
(194)
|
(738)
|
Other trading entities
|
11,882
|
376
|
350
|
12,608
|
(27)
|
(45)
|
(101)
|
(173)
|
At 31 Dec 2022
|
362,677
|
48,866
|
3,339
|
414,882
|
(561)
|
(1,504)
|
(805)
|
(2,870)
|
Total
wholesale lending for loans and advances to banks and customers at
amortised cost
|
||||||||||
|
Gross carrying amount
|
Allowance for ECL
|
||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
By legal entity
|
|
|
|
|
|
|
|
|
|
|
HSBC UK Bank plc
|
69,948
|
19,977
|
3,869
|
-
|
93,794
|
(189)
|
(527)
|
(608)
|
-
|
(1,324)
|
HSBC Bank plc
|
83,013
|
9,609
|
2,497
|
36
|
95,155
|
(59)
|
(182)
|
(932)
|
-
|
(1,173)
|
The
Hongkong and Shanghai Banking Corporation Limited
|
282,230
|
40,995
|
7,550
|
51
|
330,826
|
(197)
|
(674)
|
(3,554)
|
(22)
|
(4,447)
|
HSBC Bank Middle East Limited
|
21,789
|
1,549
|
762
|
3
|
24,103
|
(18)
|
(14)
|
(615)
|
(1)
|
(648)
|
HSBC North America Holdings Inc.
|
29,280
|
6,388
|
319
|
-
|
35,987
|
(24)
|
(187)
|
(43)
|
-
|
(254)
|
Grupo Financiero HSBC, S.A. de C.V.
|
12,219
|
1,445
|
372
|
-
|
14,036
|
(34)
|
(59)
|
(223)
|
-
|
(316)
|
Other trading entities
|
13,243
|
1,207
|
489
|
-
|
14,939
|
(20)
|
(14)
|
(219)
|
-
|
(253)
|
Holding
companies, shared service centres and intra-Group
eliminations
|
39
|
-
|
-
|
-
|
39
|
-
|
-
|
-
|
-
|
-
|
At 30 Sep 2023
|
511,761
|
81,170
|
15,858
|
90
|
608,879
|
(541)
|
(1,657)
|
(6,194)
|
(23)
|
(8,415)
|
By legal entity
|
|
|
|
|
|
|
|
|
|
|
HSBC UK Bank plc
|
64,930
|
18,856
|
4,439
|
28
|
88,253
|
(165)
|
(445)
|
(643)
|
(1)
|
(1,254)
|
HSBC Bank plc
|
83,174
|
9,175
|
2,631
|
3
|
94,983
|
(56)
|
(181)
|
(1,075)
|
-
|
(1,312)
|
The
Hongkong and Shanghai Banking Corporation Limited
|
292,022
|
50,708
|
6,934
|
80
|
349,744
|
(216)
|
(1,074)
|
(3,125)
|
(24)
|
(4,439)
|
HSBC Bank Middle East Limited
|
21,922
|
1,777
|
946
|
4
|
24,649
|
(11)
|
(21)
|
(684)
|
(3)
|
(719)
|
HSBC North America Holdings Inc.
|
30,816
|
6,861
|
211
|
-
|
37,888
|
(24)
|
(194)
|
(22)
|
-
|
(240)
|
Grupo Financiero HSBC, S.A. de C.V.
|
9,969
|
1,979
|
399
|
-
|
12,347
|
(48)
|
(62)
|
(225)
|
-
|
(335)
|
Other trading entities
|
13,512
|
2,593
|
687
|
14
|
16,806
|
(29)
|
(36)
|
(272)
|
(10)
|
(347)
|
Holding
companies, shared service centres and intra-Group
eliminations
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
At 31 Dec 2022
|
516,345
|
91,949
|
16,247
|
129
|
624,670
|
(549)
|
(2,013)
|
(6,046)
|
(38)
|
(8,646)
|
Mainland
China commercial real estate
|
||||
|
Hong Kong
|
Mainland China
|
Rest of the Group
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
Loans
and advances to customers1
|
7,242
|
4,795
|
944
|
12,981
|
Guarantees
issued and others2
|
262
|
351
|
41
|
654
|
Total mainland China commercial real estate exposure
at 30 Sep
2023
|
7,504
|
5,146
|
985
|
13,635
|
|
|
|
|
|
Distribution of mainland China commercial real estate exposure by
credit quality
|
|
|
|
|
Strong
|
1,197
|
1,748
|
111
|
3,056
|
Good
|
643
|
946
|
431
|
2,020
|
Satisfactory
|
925
|
1,689
|
233
|
2,847
|
Sub-standard
|
1,485
|
520
|
191
|
2,196
|
Credit
impaired
|
3,254
|
243
|
19
|
3,516
|
At 30 Sep
2023
|
7,504
|
5,146
|
985
|
13,635
|
|
|
|
|
|
Allowance for ECL by credit quality
|
|
|
|
|
Strong
|
-
|
(3)
|
-
|
(3)
|
Good
|
-
|
(5)
|
(1)
|
(6)
|
Satisfactory
|
(3)
|
(27)
|
-
|
(30)
|
Sub-standard
|
(97)
|
(98)
|
(17)
|
(212)
|
Credit
impaired
|
(1,931)
|
(88)
|
-
|
(2,019)
|
At 30 Sep
2023
|
(2,031)
|
(221)
|
(18)
|
(2,270)
|
|
|
|
|
|
Allowance for ECL by stage distribution
|
|
|
|
|
Stage
1
|
(1)
|
(8)
|
(1)
|
(10)
|
Stage
2
|
(99)
|
(125)
|
(17)
|
(241)
|
Stage
3
|
(1,931)
|
(88)
|
-
|
(2,019)
|
At 30 Sep
2023
|
(2,031)
|
(221)
|
(18)
|
(2,270)
|
ECL coverage %
|
27.1
|
4.3
|
1.8
|
16.6
|
Mainland
China commercial real estate (continued)
|
||||
|
Hong Kong
|
Mainland China
|
Rest of the Group
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
Loans
and advances to customers1
|
9,129
|
5,752
|
860
|
15,741
|
Guarantees
issued and others2
|
249
|
755
|
18
|
1,022
|
Total mainland China commercial real estate exposure at 31 Dec
2022
|
9,378
|
6,507
|
878
|
16,763
|
|
|
|
|
|
Distribution of mainland China commercial real estate exposure by
credit quality
|
|
|
|
|
Strong
|
1,425
|
2,118
|
220
|
3,763
|
Good
|
697
|
1,087
|
370
|
2,154
|
Satisfactory
|
1,269
|
2,248
|
77
|
3,594
|
Sub-standard
|
2,887
|
779
|
193
|
3,859
|
Credit
impaired
|
3,100
|
275
|
18
|
3,393
|
At 31 Dec 2022
|
9,378
|
6,507
|
878
|
16,763
|
|
|
|
|
|
Allowance for ECL by credit quality
|
|
|
|
|
Strong
|
-
|
(5)
|
-
|
(5)
|
Good
|
-
|
(8)
|
(1)
|
(9)
|
Satisfactory
|
(20)
|
(81)
|
-
|
(101)
|
Sub-standard
|
(458)
|
(42)
|
(3)
|
(503)
|
Credit
impaired
|
(1,268)
|
(105)
|
-
|
(1,373)
|
At 31 Dec 2022
|
(1,746)
|
(241)
|
(4)
|
(1,991)
|
|
|
|
|
|
Allowance for ECL by stage distribution
|
|
|
|
|
Stage
1
|
(1)
|
(9)
|
(1)
|
(11)
|
Stage
2
|
(477)
|
(127)
|
(3)
|
(607)
|
Stage
3
|
(1,268)
|
(105)
|
-
|
(1,373)
|
At 31 Dec 2022
|
(1,746)
|
(241)
|
(4)
|
(1,991)
|
ECL coverage %
|
18.6
|
3.7
|
0.5
|
11.9
|
Capital
adequacy metrics
|
|
|
|
At
|
|
|
30 Sep
|
30 Jun
|
|
2023
|
2023
|
Risk-weighted assets ('RWAs') ($bn)
|
|
|
Credit
risk
|
674.9
|
690.5
|
Counterparty
credit
|
36.9
|
38.6
|
Market risk
|
42.7
|
43.0
|
Operational risk
|
85.5
|
87.4
|
Total risk-weighted assets
|
840.0
|
859.5
|
Capital on a transitional basis ($bn)
|
|
|
Common equity tier 1 ('CET1') capital
|
124.8
|
126.4
|
Tier 1 capital
|
142.5
|
145.8
|
Total capital
|
165.5
|
170.0
|
Capital ratios on a transitional basis (%)
|
|
|
Common equity tier 1 ratio
|
14.9
|
14.7
|
Tier 1 ratio
|
17.0
|
17.0
|
Total capital ratio
|
19.7
|
19.8
|
Capital on an end point basis ($bn)
|
|
|
Common equity tier 1 ('CET1') capital
|
124.8
|
126.4
|
Tier 1 capital
|
142.5
|
145.8
|
Total capital
|
161.8
|
165.9
|
Capital ratios on an end point basis (%)
|
|
|
Common equity tier 1 ratio
|
14.9
|
14.7
|
Tier 1 ratio
|
17.0
|
17.0
|
Total capital ratio
|
19.3
|
19.3
|
Liquidity coverage ratio ('LCR')
|
|
|
Total high-quality liquid assets ($bn)
|
641.1
|
631.2
|
Total net cash outflow ($bn)
|
476.8
|
477.7
|
LCR
(%)
|
134
|
132
|
Leverage ratio1
|
|
|
|
At
|
|
|
30 Sep
|
30 Jun
|
|
2023
|
2023
|
|
$bn
|
$bn
|
Tier 1
capital (leverage)
|
142.5
|
145.8
|
Total
leverage ratio exposure
|
2,478.3
|
2,497.9
|
|
%
|
%
|
Leverage ratio
|
5.7
|
5.8
|
RWAs
by global business
|
|||||
|
WPB
|
CMB
|
GBM
|
CorporateCentre
|
Total
RWAs
|
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
Credit risk
|
150.6
|
314.5
|
131.9
|
77.9
|
674.9
|
Counterparty credit risk
|
1.2
|
0.8
|
33.0
|
1.9
|
36.9
|
Market risk
|
1.4
|
1.1
|
27.1
|
13.1
|
42.7
|
Operational risk
|
30.9
|
26.5
|
28.7
|
(0.6)
|
85.5
|
At 30 Sep 2023
|
184.1
|
342.9
|
220.7
|
92.3
|
840.0
|
At 30 Jun 2023
|
186.6
|
353.8
|
227.0
|
92.1
|
859.5
|
RWAs by legal entities1
|
||||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong and Shanghai Banking Corporation Limited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc
|
HSBC Bank Canada
|
Grupo Financiero HSBC, S.A.de C.V.
|
Other trading entities
|
Holding companies, shared service centres and intra-Group
eliminations
|
Total
RWAs
|
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
Credit risk
|
106.9
|
70.0
|
312.8
|
17.1
|
59.3
|
26.7
|
24.8
|
49.3
|
8.0
|
674.9
|
Counterparty credit risk
|
0.2
|
18.2
|
9.3
|
0.8
|
3.3
|
0.5
|
0.6
|
4.0
|
-
|
36.9
|
Market
risk2
|
0.1
|
21.7
|
24.3
|
3.7
|
3.7
|
1.0
|
0.7
|
2.9
|
9.0
|
42.7
|
Operational risk
|
15.2
|
14.4
|
39.2
|
3.0
|
7.4
|
3.0
|
4.7
|
5.2
|
(6.6)
|
85.5
|
At 30 Sep 2023
|
122.4
|
124.3
|
385.6
|
24.6
|
73.7
|
31.2
|
30.8
|
61.4
|
10.4
|
840.0
|
At 30 Jun 2023
|
125.7
|
127.4
|
391.5
|
24.2
|
73.1
|
31.4
|
30.7
|
66.3
|
11.3
|
859.5
|
RWA
movement by global business by key driver
|
||||||
|
Credit risk, counterparty credit riskand operational
risk
|
Marketrisk
|
TotalRWAs
|
|||
|
WPB
|
CMB
|
GBM
|
CorporateCentre
|
||
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
RWAs at 1 July 2023
|
185.3
|
352.4
|
199.8
|
79.0
|
43.0
|
859.5
|
Asset size
|
2.0
|
(2.8)
|
(0.6)
|
1.4
|
(0.3)
|
(0.3)
|
Asset quality
|
1.0
|
1.1
|
(0.3)
|
0.2
|
-
|
2.0
|
Model updates
|
(0.4)
|
(0.1)
|
(0.2)
|
-
|
-
|
(0.7)
|
Methodology and
policy
|
(0.4)
|
(0.7)
|
(2.4)
|
(1.2)
|
-
|
(4.7)
|
Acquisitions and disposals
|
(1.2)
|
(1.5)
|
(0.7)
|
0.1
|
-
|
(3.3)
|
Foreign
exchange movements1
|
(3.6)
|
(6.6)
|
(2.0)
|
(0.3)
|
-
|
(12.5)
|
Total RWA movement
|
(2.6)
|
(10.6)
|
(6.2)
|
0.2
|
(0.3)
|
(19.5)
|
RWAs at 30 Sep 2023
|
182.7
|
341.8
|
193.6
|
79.2
|
42.7
|
840.0
|
RWA movement by legal entities by key
driver1
|
|||||||||||
|
Credit risk, counterparty credit risk and operational
risk
|
|
|
||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong and Shanghai Banking Corporation Limited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc
|
HSBC Bank Canada
|
Grupo Financiero HSBC, S.A.de C.V.
|
Other trading entities
|
Holding companies, shared service centres and intra-Group
eliminations
|
Market risk
|
Total RWAs
|
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
RWAs at 1 July 2023
|
125.5
|
106.4
|
367.9
|
21.6
|
70.0
|
30.7
|
30.0
|
62.6
|
1.8
|
43.0
|
859.5
|
Asset size
|
0.7
|
(0.2)
|
(2.5)
|
(0.4)
|
(0.4)
|
(0.1)
|
0.3
|
2.6
|
-
|
(0.3)
|
(0.3)
|
Asset quality
|
1.7
|
0.5
|
(0.7)
|
(0.4)
|
0.4
|
0.2
|
0.2
|
0.1
|
-
|
-
|
2.0
|
Model updates
|
(0.1)
|
(0.4)
|
(0.2)
|
0.1
|
-
|
-
|
-
|
(0.1)
|
-
|
-
|
(0.7)
|
Methodology and policy
|
(0.5)
|
(1.1)
|
(1.7)
|
-
|
-
|
(0.1)
|
-
|
(0.9)
|
(0.4)
|
-
|
(4.7)
|
Acquisitions and disposals
|
-
|
(0.2)
|
-
|
-
|
-
|
-
|
-
|
(3.2)
|
0.1
|
-
|
(3.3)
|
Foreign
exchange movements2
|
(5.0)
|
(2.4)
|
(1.5)
|
-
|
-
|
(0.5)
|
(0.4)
|
(2.6)
|
(0.1)
|
-
|
(12.5)
|
Total RWA movement
|
(3.2)
|
(3.8)
|
(6.6)
|
(0.7)
|
-
|
(0.5)
|
0.1
|
(4.1)
|
(0.4)
|
(0.3)
|
(19.5)
|
RWAs at 30 Sep 2023
|
122.3
|
102.6
|
361.3
|
20.9
|
70.0
|
30.2
|
30.1
|
58.5
|
1.4
|
42.7
|
840.0
|
Alternative
performance measures
|
Return
on average ordinary shareholders' equity and return on average
tangible equity
|
|||||
|
Nine months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Profit
|
|
|
|
|
|
Profit attributable to the ordinary shareholders of the parent
company
|
22,585
|
9,968
|
5,619
|
6,639
|
2,002
|
Impairment of goodwill and other intangible assets (net of
tax)
|
36
|
480
|
7
|
11
|
443
|
Profit attributable to the ordinary shareholders, excluding
goodwill and other intangible assets impairment
|
22,621
|
10,448
|
5,626
|
6,650
|
2,445
|
Impact
of strategic transactions1,2
|
(3,215)
|
1,852
|
(86)
|
11
|
1,852
|
Profit attributable to the ordinary shareholders, excluding
goodwill, other intangible assets impairment and strategic
transactions
|
19,406
|
12,300
|
5,540
|
6,661
|
4,297
|
Equity
|
|
|
|
|
|
Average ordinary shareholders' equity
|
164,642
|
159,305
|
164,890
|
167,740
|
152,978
|
Effect of goodwill and other intangibles (net of deferred
tax)
|
(11,376)
|
(10,693)
|
(11,549)
|
(11,394)
|
(10,522)
|
Average tangible equity
|
153,266
|
148,612
|
153,341
|
156,346
|
142,456
|
Average impact of strategic transactions
|
(1,910)
|
463
|
(38)
|
(1,572)
|
926
|
Average tangible equity excluding strategic
transactions
|
151,356
|
149,075
|
153,303
|
154,774
|
143,382
|
Ratio
|
%
|
%
|
%
|
%
|
%
|
Return on average ordinary shareholders' equity
(annualised)
|
18.3
|
8.4
|
13.5
|
15.9
|
5.2
|
Return on average tangible equity (annualised)
|
19.7
|
9.4
|
14.6
|
17.1
|
6.8
|
Return on average tangible equity excluding strategic transactions
(annualised)
|
17.1
|
11.0
|
14.3
|
17.3
|
11.9
|
Return
on average tangible equity by global business
|
|||||
|
Nine months ended 30 Sep 2023
|
||||
|
Wealth and PersonalBanking
|
Commercial
Banking1
|
Global
Banking and
Markets1
|
CorporateCentre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Profit before tax
|
11,369
|
10,787
|
4,904
|
2,311
|
29,371
|
Tax expense
|
(2,242)
|
(2,193)
|
(925)
|
326
|
(5,034)
|
Profit after tax
|
9,127
|
8,594
|
3,979
|
2,637
|
24,337
|
Less attributable to: preference shareholders, other equity
holders, non-controlling interests
|
(744)
|
(419)
|
(413)
|
(176)
|
(1,752)
|
Profit attributable to ordinary shareholders of the parent
company
|
8,383
|
8,175
|
3,566
|
2,461
|
22,585
|
Other adjustments
|
(160)
|
256
|
119
|
(179)
|
36
|
Profit attributable to ordinary shareholders
|
8,223
|
8,431
|
3,685
|
2,282
|
22,621
|
Average tangible shareholders' equity
|
29,466
|
43,679
|
38,200
|
41,921
|
153,266
|
RoTE (%) (annualised)
|
37.3
|
25.8
|
12.9
|
7.3
|
19.7
|
|
|||||
|
Nine
months ended 30 Sep 2022
|
||||
Profit before tax
|
2,742
|
5,599
|
4,295
|
(627)
|
12,009
|
Tax expense
|
(518)
|
(1,331)
|
(615)
|
2,043
|
(421)
|
Profit after tax
|
2,224
|
4,268
|
3,680
|
1,416
|
11,588
|
Less attributable to: preference shareholders, other equity
holders, non-controlling interests
|
(533)
|
(301)
|
(375)
|
(411)
|
(1,620)
|
Profit attributable to ordinary shareholders of the parent
company
|
1,691
|
3,967
|
3,305
|
1,005
|
9,968
|
Other adjustments
|
437
|
226
|
188
|
(371)
|
480
|
Profit attributable to ordinary shareholders
|
2,128
|
4,193
|
3,493
|
634
|
10,448
|
Average
tangible shareholders' equity2
|
30,097
|
42,233
|
40,169
|
36,113
|
148,612
|
RoTE (%) (annualised)
|
9.5
|
13.3
|
11.6
|
2.3
|
9.4
|
Net
asset value and tangible net asset value per ordinary
share
|
|||
|
At
|
||
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
Total shareholders' equity
|
182,720
|
184,170
|
168,417
|
Preference shares and other equity instruments
|
(17,719)
|
(19,392)
|
(19,746)
|
Total ordinary shareholders' equity
|
165,001
|
164,778
|
148,671
|
Goodwill and intangible assets (net of deferred tax)
|
(11,554)
|
(11,544)
|
(10,237)
|
Tangible ordinary shareholders' equity
|
153,447
|
153,234
|
138,434
|
Basic number of $0.50 ordinary shares outstanding
|
19,275
|
19,534
|
19,738
|
Value per share
|
$
|
$
|
$
|
Net asset value per ordinary share
|
8.56
|
8.44
|
7.53
|
Tangible net asset value per ordinary share
|
7.96
|
7.84
|
7.01
|
Expected
credit losses and other credit impairment charges as % of average
gross loans and advances to customers
|
|||||
|
Nine months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Expected
credit losses and other credit impairment charges
('ECL')
|
(2,416)
|
(2,155)
|
(1,071)
|
(913)
|
(1,068)
|
Currency translation
|
-
|
(22)
|
-
|
(1)
|
(35)
|
Constant currency
|
(2,416)
|
(2,177)
|
(1,071)
|
(914)
|
(1,103)
|
Average gross loans and advances to customers
|
957,080
|
1,034,256
|
959,129
|
973,174
|
1,007,217
|
Currency translation
|
(9,594)
|
(21,600)
|
(9,719)
|
(16,693)
|
12,005
|
Constant currency
|
947,486
|
1,012,656
|
949,410
|
956,481
|
1,019,222
|
Average gross loans and advances to customers, including held for
sale
|
1,020,441
|
1,040,926
|
1,017,351
|
1,031,316
|
1,019,345
|
Currency translation
|
(9,850)
|
(20,788)
|
(10,305)
|
(17,212)
|
12,987
|
Constant currency
|
1,010,591
|
1,020,138
|
1,007,046
|
1,014,104
|
1,032,332
|
Ratios
|
%
|
%
|
%
|
%
|
%
|
Expected credit losses and other credit impairment charges
(annualised) as % of average gross loans and advances to
customers
|
0.34
|
0.29
|
0.45
|
0.38
|
0.43
|
Expected credit losses and other credit impairment charges
(annualised) as % of average gross loans and advances to customers,
including held for sale
|
0.32
|
0.29
|
0.42
|
0.36
|
0.42
|
Target
basis operating expenses
|
|||||
|
Nine months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Reported operating expenses
|
23,425
|
23,920
|
7,968
|
7,871
|
7,792
|
Notable items
|
(120)
|
(1,731)
|
(48)
|
(9)
|
(691)
|
- disposals, acquisitions and related costs
|
(197)
|
(9)
|
(78)
|
(57)
|
(9)
|
- restructuring and other related costs
|
77
|
(1,722)
|
30
|
48
|
(682)
|
Excluding the impact of SVB UK and related international
investments
|
(172)
|
-
|
(105)
|
(67)
|
-
|
Currency
translation1
|
|
(480)
|
|
(47)
|
83
|
Excluding
the impact of retranslating prior period costs of hyperinflationary
economies at constant currency FX
|
|
285
|
|
63
|
128
|
Target basis operating expenses
|
23,134
|
21,995
|
7,815
|
7,811
|
7,312
|
Earnings
per share excluding material notable items and related
impacts
|
|||||
|
Nine months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Profit attributable to shareholders of company
|
23,561
|
11,057
|
6,053
|
6,763
|
2,465
|
Coupon
payable on capital securities classified as equity
|
(976)
|
(1,089)
|
(434)
|
(124)
|
(463)
|
Profit attributable to ordinary shareholders of
company
|
22,585
|
9,968
|
5,619
|
6,639
|
2,002
|
Provisional
gain on acquisition of SVB UK
|
(1,593)
|
-
|
(86)
|
4
|
-
|
Impairment
loss relating to the planned sale of our retail banking operations
in France (net of tax)
|
(1,622)
|
1,852
|
-
|
7
|
1,852
|
Impact
of the agreed sale of our banking business in Canada1
|
(439)
|
-
|
(376)
|
55
|
-
|
Recognition
of a deferred tax asset from historical tax losses in HSBC
Holdings
|
-
|
(2,082)
|
-
|
-
|
-
|
Profit attributable to ordinary shareholders of company excluding
material notable items and related impacts
|
18,931
|
9,738
|
5,157
|
6,705
|
3,854
|
|
|
|
|
|
|
Number of shares
|
|
|
|
|
|
Average
basic number of ordinary shares (millions)
|
19,596
|
19,886
|
19,404
|
19,662
|
19,752
|
Basic
earnings per share excluding material notable items and related
impacts
|
0.97
|
0.49
|
0.27
|
0.34
|
0.20
|
Basic earnings per share
|
1.15
|
0.50
|
0.29
|
0.34
|
0.10
|
Reported and constant currency
results1
|
|||||
|
Nine months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue2
|
|
|
|
|
|
Reported
|
53,037
|
36,053
|
16,161
|
16,705
|
11,508
|
Currency translation
|
|
(831)
|
|
(98)
|
67
|
Constant currency
|
53,037
|
35,222
|
16,161
|
16,607
|
11,575
|
Change in expected credit losses and other credit impairment
charges
|
|
|
|
|
|
Reported
|
(2,416)
|
(2,155)
|
(1,071)
|
(913)
|
(1,068)
|
Currency translation
|
|
(22)
|
|
(1)
|
(35)
|
Constant currency
|
(2,416)
|
(2,177)
|
(1,071)
|
(914)
|
(1,103)
|
Operating expenses
|
|
|
|
|
|
Reported
|
(23,425)
|
(23,920)
|
(7,968)
|
(7,871)
|
(7,793)
|
Currency translation
|
|
486
|
|
47
|
(109)
|
Constant currency
|
(23,425)
|
(23,434)
|
(7,968)
|
(7,824)
|
(7,902)
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
Reported
|
2,175
|
2,031
|
592
|
850
|
582
|
Currency translation
|
|
(114)
|
|
(21)
|
(28)
|
Constant currency
|
2,175
|
1,917
|
592
|
829
|
554
|
Profit before tax
|
|
|
|
|
|
Reported
|
29,371
|
12,009
|
7,714
|
8,771
|
3,229
|
Currency translation
|
|
(481)
|
|
(73)
|
(105)
|
Constant currency
|
29,371
|
11,528
|
7,714
|
8,698
|
3,124
|
Profit after tax
|
|
|
|
|
|
Reported
|
24,337
|
11,588
|
6,266
|
7,045
|
2,657
|
Currency translation
|
|
(370)
|
|
(54)
|
(70)
|
Constant currency
|
24,337
|
11,218
|
6,266
|
6,991
|
2,587
|
Loans and advances to customers (net)
|
|
|
|
|
|
Reported
|
935,750
|
966,220
|
935,750
|
959,558
|
966,220
|
Currency translation
|
|
32,656
|
|
(19,220)
|
32,656
|
Constant currency
|
935,750
|
998,876
|
935,750
|
940,338
|
998,876
|
Customer accounts
|
|
|
|
|
|
Reported
|
1,563,127
|
1,567,267
|
1,563,127
|
1,595,769
|
1,567,267
|
Currency translation
|
|
54,173
|
|
(30,854)
|
54,173
|
Constant currency
|
1,563,127
|
1,621,440
|
1,563,127
|
1,564,915
|
1,621,440
|
Notable
items
|
|||||
|
Nine months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
Disposals,
acquisitions and related costs1,2,3
|
3,631
|
(2,666)
|
310
|
(241)
|
(2,378)
|
Fair
value movements on financial instruments4
|
15
|
(653)
|
-
|
-
|
(282)
|
Restructuring
and other related costs5
|
-
|
37
|
-
|
-
|
(31)
|
Disposal
losses on Markets Treasury repositioning
|
(578)
|
-
|
(578)
|
-
|
-
|
Operating expenses
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(197)
|
(9)
|
(79)
|
(57)
|
(9)
|
Restructuring
and other related costs6
|
77
|
(1,722)
|
30
|
47
|
(682)
|
Tax
|
|
|
|
|
|
Tax
(charge)/credit on notable items
|
(374)
|
930
|
127
|
(8)
|
688
|
Recognition of losses
|
-
|
2,082
|
-
|
-
|
-
|
Uncertain
tax positions
|
427
|
(317)
|
-
|
-
|
-
|
Constant currency results1
|
|||||
|
Nine months ended 30 Sep 2023
|
||||
|
Wealth andPersonalBanking
|
Commercial
Banking2
|
Global
Banking and
Markets2
|
CorporateCentre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue3
|
22,919
|
17,640
|
12,388
|
90
|
53,037
|
ECL
|
(738)
|
(1,372)
|
(302)
|
(4)
|
(2,416)
|
Operating expenses
|
(10,858)
|
(5,480)
|
(7,182)
|
95
|
(23,425)
|
Share of profit in associates and joint ventures
|
46
|
(1)
|
-
|
2,130
|
2,175
|
Profit before tax
|
11,369
|
10,787
|
4,904
|
2,311
|
29,371
|
Loans and advances to customers (net)
|
455,354
|
307,048
|
173,064
|
284
|
935,750
|
Customer accounts
|
792,928
|
459,945
|
309,785
|
469
|
1,563,127
|
Notable
items
|
|||||
|
Nine months ended 30 Sep 2023
|
||||
|
Wealth and Personal Banking
|
Commercial Banking
|
GlobalBanking and Markets
|
Corporate Centre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Notable items
|
|
|
|
|
|
Revenue
|
|
|
|
|
|
Disposals,
acquisitions and related costs1,2
|
2,034
|
1,593
|
-
|
4
|
3,631
|
Fair
value movements on financial instruments3
|
-
|
-
|
-
|
15
|
15
|
Disposal
losses on Markets Treasury repositioning
|
(253)
|
(190)
|
(135)
|
-
|
(578)
|
Operating expenses
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(26)
|
(30)
|
3
|
(144)
|
(197)
|
Restructuring
and other related costs4
|
16
|
30
|
4
|
27
|
77
|
Reconciliation
of reported results to constant currency results - global
businesses (continued)
|
|||||
|
Nine months ended 30 Sep 2022
|
||||
|
Wealth
and Personal Banking
|
Commercial
Banking1
|
Global
Banking and Markets1
|
CorporateCentre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue2
|
|
|
|
|
|
Reported
|
14,269
|
11,707
|
11,564
|
(1,487)
|
36,053
|
Currency translation
|
(277)
|
(211)
|
(311)
|
(32)
|
(831)
|
Constant currency
|
13,992
|
11,496
|
11,253
|
(1,519)
|
35,222
|
ECL
|
|
|
|
|
|
Reported
|
(869)
|
(955)
|
(328)
|
(3)
|
(2,155)
|
Currency translation
|
(45)
|
-
|
21
|
2
|
(22)
|
Constant currency
|
(914)
|
(955)
|
(307)
|
(1)
|
(2,177)
|
Operating expenses
|
|
|
|
|
|
Reported
|
(10,680)
|
(5,153)
|
(6,941)
|
(1,146)
|
(23,920)
|
Currency translation
|
180
|
144
|
109
|
53
|
486
|
Constant currency
|
(10,500)
|
(5,009)
|
(6,832)
|
(1,093)
|
(23,434)
|
Share
of profit in associates and joint ventures
|
|
|
|
|
|
Reported
|
22
|
-
|
-
|
2,009
|
2,031
|
Currency translation
|
-
|
-
|
-
|
(114)
|
(114)
|
Constant currency
|
22
|
-
|
-
|
1,895
|
1,917
|
Profit/(loss) before tax
|
|
|
|
|
|
Reported
|
2,742
|
5,599
|
4,295
|
(627)
|
12,009
|
Currency translation
|
(142)
|
(67)
|
(181)
|
(91)
|
(481)
|
Constant currency
|
2,600
|
5,532
|
4,114
|
(718)
|
11,528
|
Loans and advances to customers (net)
|
|
|
|
|
|
Reported
|
430,524
|
339,284
|
196,062
|
350
|
966,220
|
Currency translation
|
18,497
|
10,001
|
4,143
|
15
|
32,656
|
Constant currency
|
449,021
|
349,285
|
200,205
|
365
|
998,876
|
Customer accounts
|
|
|
|
|
|
Reported
|
778,969
|
465,216
|
322,663
|
419
|
1,567,267
|
Currency translation
|
25,270
|
16,845
|
12,021
|
37
|
54,173
|
Constant currency
|
804,239
|
482,061
|
334,684
|
456
|
1,621,440
|
Notable
items (continued)
|
|||||
|
Nine months ended 30 Sep 2022
|
||||
|
Wealth
and Personal Banking
|
Commercial Banking
|
Global
Banking and Markets
|
CorporateCentre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
Disposals,
acquisitions and related costs1
|
(2,205)
|
-
|
-
|
(461)
|
(2,666)
|
Fair
value movements on financial instruments2
|
-
|
-
|
-
|
(653)
|
(653)
|
Restructuring
and other related costs3
|
98
|
(1)
|
(61)
|
1
|
37
|
Operating expenses
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(4)
|
-
|
-
|
(5)
|
(9)
|
Restructuring
and other related costs
|
(175)
|
(124)
|
(137)
|
(1,286)
|
(1,722)
|
Constant currency results1
|
|||||
|
Quarter ended 30 Sep 2023
|
||||
|
Wealth and Personal Banking
|
Commercial
Banking2
|
Global Banking and Markets2
|
CorporateCentre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue3
|
6,719
|
5,424
|
3,887
|
131
|
16,161
|
ECL
|
(236)
|
(668)
|
(166)
|
(1)
|
(1,071)
|
Operating expenses
|
(3,717)
|
(1,908)
|
(2,397)
|
54
|
(7,968)
|
Share of profit in associates and joint ventures
|
11
|
-
|
-
|
581
|
592
|
Profit before tax
|
2,777
|
2,848
|
1,324
|
765
|
7,714
|
Loans and advances to customers (net)
|
455,354
|
307,048
|
173,064
|
284
|
935,750
|
Customer accounts
|
792,928
|
459,945
|
309,785
|
469
|
1,563,127
|
Notable
items
|
|||||
|
Quarter ended 30 Sep 2023
|
||||
|
Wealth and Personal Banking
|
Commercial Banking
|
GlobalBanking and Markets
|
Corporate Centre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
-
|
86
|
-
|
224
|
310
|
Disposal
losses on Markets Treasury repositioning
|
(253)
|
(190)
|
(135)
|
-
|
(578)
|
Operating expenses
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(3)
|
(15)
|
-
|
(61)
|
(79)
|
Restructuring
and other related costs1
|
16
|
1
|
4
|
9
|
30
|
Reconciliation
of reported results to constant currency results - global
businesses (continued)
|
|||||
|
Quarter ended 30 Jun 2023
|
||||
|
Wealth andPersonalBanking
|
Commercial
Banking1
|
Global
Banking
and
Markets1
|
CorporateCentre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue2
|
|
|
|
|
|
Reported
|
7,217
|
5,541
|
4,061
|
(114)
|
16,705
|
Currency translation
|
(14)
|
(37)
|
(44)
|
(3)
|
(98)
|
Constant currency
|
7,203
|
5,504
|
4,017
|
(117)
|
16,607
|
ECL
|
|
|
|
|
|
Reported
|
(256)
|
(553)
|
(104)
|
-
|
(913)
|
Currency translation
|
-
|
(1)
|
-
|
-
|
(1)
|
Constant currency
|
(256)
|
(554)
|
(104)
|
-
|
(914)
|
Operating expenses
|
|
|
|
|
|
Reported
|
(3,658)
|
(1,860)
|
(2,417)
|
64
|
(7,871)
|
Currency translation
|
20
|
21
|
2
|
4
|
47
|
Constant currency
|
(3,638)
|
(1,839)
|
(2,415)
|
68
|
(7,824)
|
Share
of profit in associates and joint ventures
|
|
|
|
|
|
Reported
|
18
|
(1)
|
-
|
833
|
850
|
Currency translation
|
-
|
-
|
-
|
(21)
|
(21)
|
Constant currency
|
18
|
(1)
|
-
|
812
|
829
|
Profit
before tax
|
|
|
|
|
|
Reported
|
3,321
|
3,127
|
1,540
|
783
|
8,771
|
Currency translation
|
6
|
(17)
|
(42)
|
(20)
|
(73)
|
Constant currency
|
3,327
|
3,110
|
1,498
|
763
|
8,698
|
Loans and advances to customers (net)
|
|
|
|
|
|
Reported
|
463,836
|
319,246
|
176,182
|
294
|
959,558
|
Currency translation
|
(10,475)
|
(6,368)
|
(2,373)
|
(4)
|
(19,220)
|
Constant currency
|
453,361
|
312,878
|
173,809
|
290
|
940,338
|
Customer accounts
|
|
|
|
|
|
Reported
|
809,864
|
472,146
|
313,126
|
633
|
1,595,769
|
Currency translation
|
(14,155)
|
(9,817)
|
(6,864)
|
(18)
|
(30,854)
|
Constant currency
|
795,709
|
462,329
|
306,262
|
615
|
1,564,915
|
Notable
items (continued)
|
|||||
|
Quarter ended 30 Jun 2023
|
||||
|
Wealth and PersonalBanking
|
Commercial Banking
|
GlobalBanking and Markets
|
CorporateCentre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
13
|
(4)
|
-
|
(250)
|
(241)
|
Operating expenses
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(2)
|
(15)
|
-
|
(40)
|
(57)
|
Restructuring
and other related costs1
|
-
|
29
|
-
|
18
|
47
|
Reconciliation
of reported results to constant currency results - global
businesses (continued)
|
|||||
|
Quarter ended 30 Sep 2022
|
||||
|
Wealth andPersonalBanking
|
Commercial
Banking1
|
Global
Banking
and
Markets1
|
CorporateCentre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue2
|
|
|
|
|
|
Reported
|
3,947
|
4,383
|
3,771
|
(593)
|
11,508
|
Currency translation
|
(13)
|
58
|
23
|
(1)
|
67
|
Constant currency
|
3,934
|
4,441
|
3,794
|
(594)
|
11,575
|
ECL
|
|
|
|
|
|
Reported
|
(298)
|
(676)
|
(94)
|
-
|
(1,068)
|
Currency translation
|
(32)
|
(1)
|
(3)
|
1
|
(35)
|
Constant currency
|
(330)
|
(677)
|
(97)
|
1
|
(1,103)
|
Operating expenses
|
|
|
|
|
|
Reported
|
(3,464)
|
(1,668)
|
(2,205)
|
(456)
|
(7,793)
|
Currency translation
|
(41)
|
4
|
(71)
|
(1)
|
(109)
|
Constant currency
|
(3,505)
|
(1,664)
|
(2,276)
|
(457)
|
(7,902)
|
Share
of profit in associates and joint ventures
|
|
|
|
|
|
Reported
|
14
|
-
|
-
|
568
|
582
|
Currency translation
|
-
|
-
|
-
|
(28)
|
(28)
|
Constant currency
|
14
|
-
|
-
|
540
|
554
|
Profit/(loss) before tax
|
|
|
|
|
|
Reported
|
199
|
2,039
|
1,472
|
(481)
|
3,229
|
Currency translation
|
(86)
|
61
|
(51)
|
(29)
|
(105)
|
Constant currency
|
113
|
2,100
|
1,421
|
(510)
|
3,124
|
Loans and advances to customers (net)
|
|
|
|
|
|
Reported
|
430,524
|
339,284
|
196,062
|
350
|
966,220
|
Currency translation
|
18,497
|
10,001
|
4,143
|
15
|
32,656
|
Constant currency
|
449,021
|
349,285
|
200,205
|
365
|
998,876
|
Customer accounts
|
|
|
|
|
|
Reported
|
778,969
|
465,216
|
322,663
|
419
|
1,567,267
|
Currency translation
|
25,270
|
16,845
|
12,021
|
37
|
54,173
|
Constant currency
|
804,239
|
482,061
|
334,684
|
456
|
1,621,440
|
Notable
items (continued)
|
|||||
|
Quarter
ended 30 Sep 2022
|
||||
|
Wealth and PersonalBanking
|
Commercial Banking
|
GlobalBanking and Markets
|
CorporateCentre
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
Disposals,
acquisitions and related costs1
|
(2,205)
|
-
|
-
|
(173)
|
(2,378)
|
Fair
value movements on financial instruments2
|
-
|
-
|
-
|
(282)
|
(282)
|
Restructuring
and other related costs3
|
5
|
(1)
|
(35)
|
-
|
(31)
|
Operating expenses
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(4)
|
-
|
-
|
(5)
|
(9)
|
Restructuring
and other related costs
|
(62)
|
(58)
|
(50)
|
(512)
|
(682)
|
Reconciliation
of reported risk-weighted assets to constant currency risk-weighted
assets
|
|||||
|
At 30 Sep 2023
|
||||
|
Wealth and Personal Banking
|
Commercial
Banking
|
Global
Banking and Markets
|
CorporateCentre
|
Total
|
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
Risk-weighted assets
|
|
|
|
|
|
Reported
|
184.1
|
342.9
|
220.7
|
92.3
|
840.0
|
Constant currency
|
184.1
|
342.9
|
220.7
|
92.3
|
840.0
|
|
|
|
|
|
|
|
At 30
Jun 2023
|
||||
Risk-weighted assets
|
|
|
|
|
|
Reported
|
186.6
|
353.8
|
227.0
|
92.1
|
859.5
|
Currency translation
|
(4.0)
|
(7.7)
|
(2.4)
|
(0.6)
|
(14.7)
|
Constant currency
|
182.6
|
346.1
|
224.6
|
91.5
|
844.8
|
|
|
|
|
|
|
|
At 31
Mar 2023
|
||||
Risk-weighted assets
|
|
|
|
|
|
Reported
|
181.4
|
353.1
|
225.2
|
94.7
|
854.4
|
Currency translation
|
(2.8)
|
(6.7)
|
(3.2)
|
(0.9)
|
(13.6)
|
Constant currency
|
178.6
|
346.4
|
222.0
|
93.8
|
840.8
|
Legal entity results1
|
||||||||||
|
Nine months ended 30 Sep 2023
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong and Shanghai Banking Corpo-ration Limited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other trading entities2
|
Holding
companies,
shared
service
centres and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue3
|
10,397
|
9,146
|
24,253
|
1,836
|
3,136
|
1,501
|
2,427
|
3,288
|
(2,947)
|
53,037
|
ECL
|
(476)
|
(153)
|
(1,204)
|
(6)
|
(47)
|
(31)
|
(422)
|
(107)
|
30
|
(2,416)
|
Operating expenses
|
(3,352)
|
(4,536)
|
(9,875)
|
(807)
|
(2,203)
|
(775)
|
(1,356)
|
(1,836)
|
1,315
|
(23,425)
|
Share of profit/(loss) in associates and joint
ventures
|
-
|
(52)
|
1,826
|
-
|
-
|
-
|
9
|
395
|
(3)
|
2,175
|
Profit/(loss) before tax
|
6,569
|
4,405
|
15,000
|
1,023
|
886
|
695
|
658
|
1,740
|
(1,605)
|
29,371
|
Loans and advances to customers (net)
|
257,289
|
109,244
|
453,443
|
18,508
|
53,186
|
-
|
24,702
|
19,377
|
1
|
935,750
|
Customer
accounts4
|
324,526
|
269,493
|
766,225
|
31,030
|
99,427
|
-
|
28,412
|
43,911
|
103
|
1,563,127
|
Notable
items
|
|
|||||||||
|
Nine months ended 30 Sep 2023
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong and Shanghai Banking Corpo-ration Limited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other trading entities
|
Holding
companies,
shared
service
centres and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs1,2
|
1,593
|
2,098
|
-
|
-
|
-
|
-
|
-
|
-
|
(60)
|
3,631
|
Fair
value movements on financial instruments3
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
15
|
15
|
Restructuring
and other related costs4
|
-
|
361
|
-
|
-
|
-
|
-
|
-
|
-
|
(361)
|
-
|
Disposal
losses on Markets Treasury repositioning
|
(145)
|
(94)
|
(339)
|
-
|
-
|
-
|
-
|
-
|
-
|
(578)
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(29)
|
(68)
|
-
|
-
|
(5)
|
(81)
|
-
|
-
|
(14)
|
(197)
|
Restructuring
and other related costs5
|
13
|
16
|
8
|
1
|
2
|
-
|
6
|
2
|
29
|
77
|
Legal
entity results (continued)
|
||||||||||
|
Nine months ended 30 Sep 2022
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong andShanghaiBankingCorporationLimited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other
trading entities1
|
Holding
companies,
shared
service
centres
and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue2
|
|
|
|
|
|
|
|
|
|
|
Reported
|
7,142
|
3,913
|
18,127
|
1,245
|
3,147
|
1,428
|
1,956
|
2,467
|
(3,372)
|
36,053
|
Currency translation
|
(26)
|
(77)
|
(278)
|
2
|
-
|
(65)
|
278
|
(517)
|
(148)
|
(831)
|
Constant currency
|
7,116
|
3,836
|
17,849
|
1,247
|
3,147
|
1,363
|
2,234
|
1,950
|
(3,520)
|
35,222
|
ECL
|
|
|
|
|
|
|
|
|
|
|
Reported
|
(327)
|
(237)
|
(1,189)
|
58
|
(21)
|
(64)
|
(334)
|
(46)
|
5
|
(2,155)
|
Currency translation
|
(29)
|
18
|
2
|
-
|
-
|
2
|
(46)
|
30
|
1
|
(22)
|
Constant currency
|
(356)
|
(219)
|
(1,187)
|
58
|
(21)
|
(62)
|
(380)
|
(16)
|
6
|
(2,177)
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
Reported
|
(3,468)
|
(4,683)
|
(9,633)
|
(754)
|
(2,505)
|
(751)
|
(1,187)
|
(1,642)
|
703
|
(23,920)
|
Currency translation
|
27
|
10
|
133
|
-
|
(1)
|
35
|
(166)
|
335
|
113
|
486
|
Constant currency
|
(3,441)
|
(4,673)
|
(9,500)
|
(754)
|
(2,506)
|
(716)
|
(1,353)
|
(1,307)
|
816
|
(23,434)
|
Share of profit/(loss) in associates and joint
ventures
|
|
|
|
|
|
|
|
|
|
|
Reported
|
-
|
(32)
|
1,841
|
-
|
-
|
-
|
8
|
215
|
(1)
|
2,031
|
Currency translation
|
-
|
2
|
(115)
|
-
|
-
|
-
|
-
|
-
|
(1)
|
(114)
|
Constant currency
|
-
|
(30)
|
1,726
|
-
|
-
|
-
|
8
|
215
|
(2)
|
1,917
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|
|
|
|
Reported
|
3,347
|
(1,039)
|
9,146
|
549
|
621
|
613
|
443
|
994
|
(2,665)
|
12,009
|
Currency translation
|
(28)
|
(47)
|
(258)
|
2
|
(1)
|
(28)
|
66
|
(152)
|
(35)
|
(481)
|
Constant currency
|
3,319
|
(1,086)
|
8,888
|
551
|
620
|
585
|
509
|
842
|
(2,700)
|
11,528
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|
|
|
|
Reported
|
227,527
|
86,795
|
478,865
|
20,384
|
56,781
|
55,177
|
19,988
|
20,703
|
-
|
966,220
|
Currency translation
|
22,134
|
7,573
|
617
|
32
|
-
|
870
|
3,113
|
(1,683)
|
-
|
32,656
|
Constant currency
|
249,661
|
94,368
|
479,482
|
20,416
|
56,781
|
56,047
|
23,101
|
19,020
|
-
|
998,876
|
Customer accounts
|
|
|
|
|
|
|
|
|
|
|
Reported
|
317,964
|
240,807
|
756,033
|
28,486
|
98,403
|
59,385
|
23,888
|
42,300
|
1
|
1,567,267
|
Currency translation
|
30,932
|
21,382
|
2,638
|
51
|
-
|
937
|
3,721
|
(5,487)
|
(1)
|
54,173
|
Constant currency
|
348,896
|
262,189
|
758,671
|
28,537
|
98,403
|
60,322
|
27,609
|
36,813
|
-
|
1,621,440
|
Notable
items (continued)
|
||||||||||
|
Nine months ended 30 Sep 2022
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong andShanghaiBankingCorporationLimited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other trading entities
|
Holding
companies,
shared
service
centres
and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs1
|
-
|
(2,231)
|
-
|
-
|
-
|
-
|
-
|
-
|
(435)
|
(2,666)
|
Fair
value movements on financial instruments2
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(653)
|
(653)
|
Restructuring
and other related costs3
|
1
|
(35)
|
-
|
-
|
87
|
-
|
(2)
|
-
|
(14)
|
37
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
-
|
(9)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(9)
|
Restructuring
and other related costs
|
(328)
|
(382)
|
(402)
|
(33)
|
(223)
|
(36)
|
(66)
|
(84)
|
(168)
|
(1,722)
|
Legal entity results1 (continued)
|
||||||||||
|
Quarter ended 30 Sep 2023
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong and Shanghai Banking Corpo-ration Limited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other trading entities2
|
Holding
companies,
shared
service
centres and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue3
|
3,008
|
2,443
|
7,720
|
638
|
994
|
493
|
853
|
1,071
|
(1,059)
|
16,161
|
ECL
|
(58)
|
(80)
|
(748)
|
(6)
|
15
|
(20)
|
(158)
|
(36)
|
20
|
(1,071)
|
Operating expenses
|
(1,172)
|
(1,447)
|
(3,368)
|
(282)
|
(824)
|
(253)
|
(476)
|
(697)
|
551
|
(7,968)
|
Share of profit/(loss) in associates and joint
ventures
|
-
|
(9)
|
479
|
-
|
-
|
-
|
3
|
120
|
(1)
|
592
|
Profit/(loss) before tax
|
1,778
|
907
|
4,083
|
350
|
185
|
220
|
222
|
458
|
(489)
|
7,714
|
Loans and advances to customers (net)
|
257,289
|
109,244
|
453,443
|
18,508
|
53,186
|
-
|
24,702
|
19,377
|
1
|
935,750
|
Customer
accounts4
|
324,526
|
269,493
|
766,225
|
31,030
|
99,427
|
-
|
28,412
|
43,911
|
103
|
1,563,127
|
Notable
items (continued)
|
||||||||||
|
Quarter ended 30 Sep 2023
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong and Shanghai Banking Corpo-ration Limited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other trading entities
|
Holding
companies,
shared
service
centres and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
86
|
(3)
|
-
|
-
|
-
|
-
|
-
|
-
|
227
|
310
|
Restructuring
and other related costs1
|
-
|
361
|
-
|
-
|
-
|
-
|
-
|
-
|
(361)
|
-
|
Disposal
losses on Markets Treasury repositioning
|
(145)
|
(94)
|
(339)
|
-
|
-
|
-
|
-
|
-
|
-
|
(578)
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(14)
|
(23)
|
-
|
-
|
(3)
|
(27)
|
-
|
-
|
(12)
|
(79)
|
Restructuring
and other related costs2
|
13
|
16
|
8
|
1
|
2
|
-
|
6
|
2
|
(18)
|
30
|
Legal
entity results (continued)
|
||||||||||
|
Quarter ended 30 Jun 2023
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong andShanghaiBankingCorporationLimited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other
trading entities1
|
Holding
companies,
shared
service
centres
and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue2
|
|
|
|
|
|
|
|
|
|
|
Reported
|
3,114
|
2,271
|
8,199
|
574
|
1,059
|
508
|
826
|
1,285
|
(1,131)
|
16,705
|
Currency translation
|
33
|
12
|
(42)
|
1
|
(1)
|
-
|
29
|
(126)
|
(4)
|
(98)
|
Constant currency
|
3,147
|
2,283
|
8,157
|
575
|
1,058
|
508
|
855
|
1,159
|
(1,135)
|
16,607
|
ECL
|
|
|
|
|
|
|
|
|
|
|
Reported
|
(257)
|
(55)
|
(389)
|
(7)
|
(33)
|
(10)
|
(136)
|
(36)
|
10
|
(913)
|
Currency translation
|
(3)
|
-
|
(2)
|
-
|
-
|
1
|
(4)
|
11
|
(4)
|
(1)
|
Constant currency
|
(260)
|
(55)
|
(391)
|
(7)
|
(33)
|
(9)
|
(140)
|
(25)
|
6
|
(914)
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
Reported
|
(1,197)
|
(1,432)
|
(3,423)
|
(271)
|
(632)
|
(262)
|
(473)
|
(627)
|
446
|
(7,871)
|
Currency translation
|
(13)
|
(7)
|
19
|
-
|
1
|
(1)
|
(18)
|
62
|
4
|
47
|
Constant currency
|
(1,210)
|
(1,439)
|
(3,404)
|
(271)
|
(631)
|
(263)
|
(491)
|
(565)
|
450
|
(7,824)
|
Share of profit/(loss) in associates and joint
ventures
|
|
|
|
|
|
|
|
|
|
|
Reported
|
-
|
-
|
681
|
-
|
-
|
-
|
4
|
167
|
(2)
|
850
|
Currency translation
|
-
|
(1)
|
(20)
|
-
|
-
|
-
|
-
|
(2)
|
2
|
(21)
|
Constant currency
|
-
|
(1)
|
661
|
-
|
-
|
-
|
4
|
165
|
-
|
829
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|
|
|
|
Reported
|
1,660
|
784
|
5,068
|
296
|
394
|
236
|
221
|
789
|
(677)
|
8,771
|
Currency translation
|
17
|
4
|
(45)
|
1
|
-
|
-
|
7
|
(55)
|
(2)
|
(73)
|
Constant currency
|
1,677
|
788
|
5,023
|
297
|
394
|
236
|
228
|
734
|
(679)
|
8,698
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|
|
|
|
Reported
|
266,694
|
112,408
|
464,546
|
18,804
|
53,410
|
-
|
24,507
|
19,189
|
-
|
959,558
|
Currency translation
|
(11,285)
|
(4,001)
|
(2,589)
|
(4)
|
-
|
-
|
(439)
|
(902)
|
-
|
(19,220)
|
Constant currency
|
255,409
|
108,407
|
461,957
|
18,800
|
53,410
|
-
|
24,068
|
18,287
|
-
|
940,338
|
Customer accounts
|
|
|
|
|
|
|
|
|
|
|
Reported
|
345,835
|
282,041
|
775,430
|
31,262
|
99,303
|
-
|
28,402
|
33,313
|
183
|
1,595,769
|
Currency translation
|
(14,634)
|
(10,683)
|
(3,304)
|
(11)
|
-
|
-
|
(509)
|
(1,713)
|
-
|
(30,854)
|
Constant currency
|
331,201
|
271,358
|
772,126
|
31,251
|
99,303
|
-
|
27,893
|
31,600
|
183
|
1,564,915
|
Notable
items (continued)
|
||||||||||
|
Quarter ended 30 Jun 2023
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong andShanghaiBankingCorporationLimited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other trading entities
|
Holding
companies,
shared
service
centres
and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(4)
|
(6)
|
-
|
-
|
-
|
-
|
-
|
-
|
(231)
|
(241)
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
(7)
|
(20)
|
-
|
-
|
(1)
|
(27)
|
-
|
-
|
(2)
|
(57)
|
Restructuring
and other related costs1
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
47
|
47
|
Legal
entity results (continued)
|
||||||||||
|
Quarter ended 30 Sep 2022
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong andShanghaiBankingCorporationLimited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other
trading entities1
|
Holding
companies,
shared
service
centres
and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue2
|
|
|
|
|
|
|
|
|
|
|
Reported
|
2,485
|
87
|
6,813
|
445
|
1,007
|
509
|
691
|
977
|
(1,506)
|
11,508
|
Currency translation
|
190
|
15
|
(45)
|
1
|
-
|
(13)
|
129
|
(218)
|
8
|
67
|
Constant currency
|
2,675
|
102
|
6,768
|
446
|
1,007
|
496
|
820
|
759
|
(1,498)
|
11,575
|
ECL
|
|
|
|
|
|
|
|
|
|
|
Reported
|
(279)
|
15
|
(661)
|
(10)
|
-
|
(33)
|
(91)
|
(12)
|
3
|
(1,068)
|
Currency translation
|
(21)
|
(3)
|
(4)
|
1
|
-
|
1
|
(17)
|
9
|
(1)
|
(35)
|
Constant currency
|
(300)
|
12
|
(665)
|
(9)
|
-
|
(32)
|
(108)
|
(3)
|
2
|
(1,103)
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
Reported
|
(1,129)
|
(1,389)
|
(3,230)
|
(264)
|
(810)
|
(248)
|
(399)
|
(596)
|
272
|
(7,793)
|
Currency translation
|
(86)
|
(101)
|
21
|
(1)
|
-
|
6
|
(75)
|
136
|
(9)
|
(109)
|
Constant currency
|
(1,215)
|
(1,490)
|
(3,209)
|
(265)
|
(810)
|
(242)
|
(474)
|
(460)
|
263
|
(7,902)
|
Share of profit/(loss) in associates and joint
ventures
|
|
|
|
|
|
|
|
|
|
|
Reported
|
-
|
(4)
|
490
|
-
|
-
|
-
|
3
|
93
|
-
|
582
|
Currency translation
|
-
|
(1)
|
(27)
|
-
|
-
|
-
|
1
|
(1)
|
-
|
(28)
|
Constant currency
|
-
|
(5)
|
463
|
-
|
-
|
-
|
4
|
92
|
-
|
554
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|
|
|
|
Reported
|
1,077
|
(1,291)
|
3,412
|
171
|
197
|
228
|
204
|
462
|
(1,231)
|
3,229
|
Currency translation
|
83
|
(90)
|
(55)
|
1
|
-
|
(6)
|
38
|
(74)
|
(2)
|
(105)
|
Constant currency
|
1,160
|
(1,381)
|
3,357
|
172
|
197
|
222
|
242
|
388
|
(1,233)
|
3,124
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|
|
|
|
Reported
|
227,527
|
86,795
|
478,865
|
20,384
|
56,781
|
55,177
|
19,988
|
20,703
|
-
|
966,220
|
Currency translation
|
22,134
|
7,573
|
617
|
32
|
-
|
870
|
3,113
|
(1,683)
|
-
|
32,656
|
Constant currency
|
249,661
|
94,368
|
479,482
|
20,416
|
56,781
|
56,047
|
23,101
|
19,020
|
-
|
998,876
|
Customer accounts
|
|
|
|
|
|
|
|
|
|
|
Reported
|
317,964
|
240,807
|
756,033
|
28,486
|
98,403
|
59,385
|
23,888
|
42,300
|
1
|
1,567,267
|
Currency translation
|
30,932
|
21,382
|
2,638
|
51
|
-
|
937
|
3,721
|
(5,487)
|
(1)
|
54,173
|
Constant currency
|
348,896
|
262,189
|
758,671
|
28,537
|
98,403
|
60,322
|
27,609
|
36,813
|
-
|
1,621,440
|
Notable
items (continued)
|
||||||||||
|
Quarter ended 30 Sep 2022
|
|||||||||
|
HSBC UK Bank plc
|
HSBC Bank plc
|
The Hongkong andShanghaiBankingCorporationLimited
|
HSBC Bank Middle East Limited
|
HSBC North America Holdings Inc.
|
HSBC Bank Canada
|
GrupoFinancieroHSBC, S.A.de C.V.
|
Other trading entities
|
Holding
companies,
shared
service
centres
and
intra-Group
eliminations
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs1
|
-
|
(1,953)
|
-
|
-
|
-
|
-
|
-
|
-
|
(425)
|
(2,378)
|
Fair
value movements on financial instruments2
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(282)
|
(282)
|
Restructuring
and other related costs3
|
-
|
(14)
|
(4)
|
-
|
(9)
|
-
|
(1)
|
-
|
(3)
|
(31)
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
Disposals,
acquisitions and related costs
|
-
|
(9)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(9)
|
Restructuring
and other related costs
|
(116)
|
(132)
|
(175)
|
(14)
|
(97)
|
(14)
|
(30)
|
(45)
|
(59)
|
(682)
|
Middle
East, North Africa and Türkiye regional
performance
|
|||||
|
Nine
months ended
|
Quarter ended
|
|||
|
30 Sep
|
30
Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Revenue1
|
2,748
|
2,126
|
895
|
955
|
788
|
Change
in expected credit losses and other credit impairment
charges
|
(16)
|
43
|
(13)
|
4
|
(6)
|
Operating expenses
|
(1,188)
|
(1,137)
|
(414)
|
(399)
|
(381)
|
Share
of profit from associates and joint ventures
|
391
|
209
|
118
|
162
|
92
|
Profit before tax
|
1,935
|
1,241
|
586
|
722
|
493
|
|
|
|
|
|
|
Loans
and advances to customers (net)2
|
21,392
|
27,676
|
21,392
|
21,901
|
27,676
|
Customer
accounts2
|
40,745
|
43,937
|
40,744
|
40,480
|
43,937
|
Profit
before tax by global business
|
|||||
|
Nine
months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2023
|
2022
|
2023
|
2023
|
2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Wealth and Personal Banking
|
486
|
223
|
185
|
160
|
109
|
Commercial Banking
|
369
|
219
|
93
|
157
|
99
|
Global Banking and Markets
|
821
|
660
|
250
|
275
|
218
|
Corporate Centre
|
259
|
139
|
58
|
130
|
67
|
Total
|
1,935
|
1,241
|
586
|
722
|
493
|
Additional
information
|
Investor relations
|
|
|
Media relations
|
UK - Richard O'Connor
|
|
|
UK - Gillian James
|
Telephone:
+44 (0)7909 873 681
|
|
|
Telephone: +44 (0)7584 404 238
|
Email: investorrelations@hsbc.com
|
|
|
Email: pressoffice@hsbc.com
|
|
|
|
|
Hong Kong - Yafei Tian
|
|
|
UK - Kirsten Smart
|
Telephone:
+852 2899 8909
|
|
|
Telephone: +44 (0)7725 733 311
|
Email: investorrelations@hsbc.com.hk
|
|
|
Email: pressoffice@hsbc.com
|
|
|
|
|
|
|
|
Hong Kong - Aman Ullah
|
|
|
|
Telephone: +852 3941 1120
|
|
|
|
Email: aspmediarelations@hsbc.com.hk
|
1Q22
|
First quarter of 2022
|
1Q23
|
First quarter of 2023
|
2Q22
|
Second
quarter of 2022
|
2Q23
|
Second quarter of 2023
|
3Q22
|
Third quarter of 2022
|
3Q23
|
Third quarter of 2023
|
4Q22
|
Fourth quarter of 2022
|
4Q23
|
Fourth quarter of 2023
|
9M22
|
Nine
months to 30 September 2022
|
9M23
|
Nine
months to 30 September 2023
|
AIEA
|
Average interest-earning assets
|
Basel III
|
Basel Committee's reforms to strengthen global capital and
liquidity rules
|
Basel 3.1
|
Outstanding measures to be implemented from the Basel III
reforms
|
BoCom
|
Bank of
Communications Co., Limited, one of China's largest
banks
|
Bps
|
Basis points. One basis point is equal to one-hundredth of a
percentage point
|
CET1
|
Common equity tier 1
|
CMB
|
Commercial Banking, a global business
|
CODM
|
Chief Operating Decision Maker
|
Corporate Centre
|
Corporate Centre comprises Central Treasury, our legacy businesses,
interests in our associates and joint ventures, central stewardship
costs and consolidation adjustments
|
CSM
|
Contractual service margin
|
EBA
|
European Banking Authority
|
ECL
|
Expected credit losses. In the income statement, ECL is recorded as
a change in expected credit losses and other credit impairment
charges. In the balance sheet, ECL is recorded as an allowance for
financial instruments to which only the impairment requirements
inIFRS 9 are applied
|
ESG
|
Environmental, social and governance
|
EU
|
European Union
|
FTE
|
Full-time equivalent staff
|
FVOCI
|
Fair value through other comprehensive income
|
FX
|
Foreign exchange
|
GAAP
|
Generally accepted accounting principles
|
GBM
|
Global Banking and Markets, a global business
|
GDP
|
Gross domestic product
|
GEC
|
Group Executive Committee
|
GPS
|
Global Payments Solutions, the business formerly known as Global
Liquidity and Cash Management
|
Group
|
HSBC Holdings together with its subsidiary
undertakings
|
GTRF
|
Global Trade and Receivables Finance
|
Hong Kong
|
Hong Kong Special Administrative Region of the People's Republic of
China
|
HSBC
|
HSBC Holdings together with its subsidiary
undertakings
|
HSBC Bank plc
|
HSBC Bank plc, also known as the non-ring-fenced bank
|
HSBC Holdings
|
HSBC Holdings plc, the parent company of HSBC
|
HSBC UK
|
HSBC UK Bank plc, also known as the ring-fenced bank
|
IAS
|
International Accounting Standards
|
Ibor
|
Interbank offered rate
|
IFRSs
|
International Financial Reporting Standards
|
JV
|
Joint venture
|
LCR
|
Liquidity coverage ratio
|
Libor
|
London interbank offered rate
|
Long term
|
For our strategic goals, we define long term as five to six years,
commencing 1 January 2020
|
Mainland China
|
People's Republic of China excluding Hong Kong and
Macau
|
Medium term
|
For our strategic goals, we define medium term as three to five
years, commencing 1 January 2020
|
MENAT
|
Middle
East, North Africa and Türkiye
|
MSS
|
Markets and Securities Services, HSBC's capital markets and
securities services businesses in Global Banking and
Markets
|
Net operating income
|
Net operating income before change in expected credit losses and
other credit impairment charges, also referred to as
revenue
|
NII
|
Net
interest income
|
NIM
|
Net interest margin
|
POCI
|
Purchased or originated credit-impaired financial
assets
|
PRA
|
Prudential Regulation Authority (UK)
|
Revenue
|
Net operating income before ECL
|
RoE
|
Return on average ordinary shareholders' equity
|
RoTE
|
Return on average tangible equity
|
RWA
|
Risk-weighted asset
|
SAB
|
Saudi Awwal Bank, which was formed from the merger between The
Saudi British Bank and Alawwal Bank
|
SVB UK
|
Silicon
Valley Bank UK Limited, now HSBC Innovation Bank
Limited
|
UAE
|
United
Arab Emirates
|
UK
|
United
Kingdom
|
US
|
United
States of America
|
WPB
|
Wealth and Personal Banking, a global business
|
$m/$bn/$tn
|
United States dollar millions/billions/trillions. We report in US
dollars
|
HSBC
Holdings plc
|
|
|
|
|
By:
|
|
Name:
Aileen Taylor
|
|
Title:
Group Company Secretary and Chief Governance Officer
|
|
|
|
Date:
30 October 2023
|