Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 16

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 16
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 banking with us across multiple markets. (2023: 61%) Gender representation 34.6% Senior leadership roles held by women. (2023: 34.1% ) Sustainable finance and investment $ 393.6 bn Cumulative total provided and facilitated since 1 January 2020. (2023: $ 294.4 bn)

| HSBC Holdings plcAnnual Report on Form 20-F | 5 |

Highlights Financial performance reflected business growth, particularly in Wealth. We continued to make progress in reshaping the Group and we have announced a simplification of our organisation structure to accelerate strategic delivery.

Financial performance (vs 2023) – Profit before tax rose by $2.0bn to $32.3bn , including a $1.0bn net favourable impact from notable items. In 2024, these included a gain of $4.8bn on the disposal of our banking business in Canada, the impacts of the disposal of our business in Argentina, comprising a $1.0bn loss on disposal, and the recycling of foreign currency reserve losses and other reserves of $5.2bn. In 2023, notable items included an impairment of $3.0bn on our associate, Bank of Communications Co., Limited (‘BoCom’), disposal losses of $1.0bn on Treasury repositioning and risk management and a $1.6bn gain recognised on the acquisition of Silicon Valley Bank UK Limited (‘SVB UK’). Profit after tax increased by $0.4bn to $25.0bn . – Constant currency profit before tax excluding notable items increased by $1.4bn to $34.1bn , primarily reflecting revenue growth in Wealth and Personal Banking (‘WPB’) and Global Banking and Markets (‘GBM’), partly offset by a rise in operating expenses, in line with our cost growth targets. – Revenue of $65.9bn was stable. There was growth in revenue from higher customer activity in Wealth in WPB, and in Equities and Securities Financing in GBM. In addition, 2023 included disposal losses of $1.0bn related to Treasury repositioning and risk management. This was offset by the net adverse impact of certain strategic transactions described above, as well as a $0.2bn loss on the early redemption of legacy securities. – Constant currency revenue excluding notable items rose by $2.9bn to $67.4bn . – Net interest income (‘NII’) decreased