Company: HBCYF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0001654954-25-004763
Chunk: 27

Company: HSBC HOLDINGS PLC
Filing Date: 2025-04-29
Form: 6-K
Chunk 27
---
           495 |  7 |               -355 |
| Notable items                                       |             - |           - |           - |             - |  - |                  - |
| Revenue                                             |         7,187 |       6,478 |       6,692 |           495 |  7 |               -355 |
| RoTE (annualised) (%)                               |          18.7 |             |        16.0 |               |    |                    |

1 For a description of how we derive banking NII, see page 16. In CIB, there are no adjustments to net interest income to derive banking NII. The internal funding costs of trading and fair value net assets are recorded in 'fee and other income'. On consolidation, this funding is eliminated in Corporate Centre. In 1Q25, this funding cost was $2.4bn (1Q24: $2.7bn).

2 Includes allocated revenue from Markets Treasury and hyperinflationary impacts. It also includes notional tax credits.

3 Impact of strategic transactions classified as material notable items. For further details, see 'Strategic transactions supplementary analysis' on page 26 .

| Notable items                                         | Quarter ended 
   31 Mar 2025 | 31 Dec 2024 | 31 Mar 2024 |
|:------------------------------------------------------|--------------:|------------:|------------:|
|                                                       |            $m |          $m |          $m |
| Operating expenses                                    |               |             |             |
| Disposals, wind-downs, acquisitions and related costs |           -26 |         -11 |          -1 |
| Restructuring and other related costs                 |           -46 |          -6 |           3 |
| Currency translation on operating expenses notable    
 items                                                 |             - |           1 |           - |

1Q25 compared with 1Q24

Profit before tax of $3.5bn was $0.3bn higher than in 1Q24 on a constant currency basis. Revenue increased, reflecting strong performances in Foreign Exchange in Wholesale Transaction Banking and in Debt and Equity Markets, as well as higher revenue allocated from Corporate Centre, primarily related to lower adverse hyperinflationary impacts following the disposal of our business in Argentina. The increase in revenue was partly offset by higher operating expenses.

Revenue of $7.2bn was $0.5bn or 7% higher on a constant currency basis, including the adverse impact of the dispos