Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001654954-25-012267
Chunk: 40

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 40
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 was $4.3bn lower on a constant currency basis. This primarily reflected the adverse impact of notable items, comprising the non-recurrence of notable items in 9M24 as mentioned above, as well as the dilution loss related to BoCom in 9M25.

Banking NII was a net expense of $0.6bn. This was stable compared with 9M24 on a constant currency basis. Banking NII in 9M25 removes from NII the internal cost to fund trading and fair value net assets, predominantly in CIB, of $7.1bn (9M24: $8.6bn).

Fee and other income of $0.6bn was $0.2bn higher, primarily due to fair value gains on non-qualifying hedges related to our retained French portfolio of home and certain other loans and the non-recurrence of an impairment in 9M24 related to the sale of our operations in Armenia. This was partly offset by a loss on the early redemption of legacy securities.

Operating expenses increased by $1.1bn on a constant currency basis, primarily reflecting a legal provision of $1.1bn in connection with developments in a claim in Luxembourg relating to the Madoff securities fraud, and a rise in restructuring and other related costs, partly offset by higher recoveries from the business segments.

Share of profit from associates and joint ventures less impairment of $1.2bn decreased by $1.0bn or 44% on a constant currency basis, due to the impairment loss of $1.0bn referred to above.

3Q25 compared with 3Q24

| Results - on a constant currency basis           | Quarter ended |             |               |        |                    |
|:-------------------------------------------------|--------------:|------------:|--------------:|-------:|-------------------:|
|                                                  |               |             |      Variance |        |                    |
|                                                  |               |             | 3Q25 vs. 3Q24 |        |                    |
|                                                  |   30 Sep 2025 | 30 Sep 2024 |               |        | of which strategic 
      transactions1 |
|                                                  |            $m |          $m |            $m |      % |                 $m |
| Revenue                                          |           -69 |        -212 |           143 |     67 |               -102 |
| ECL                                              |           -65 |         -22 |           -43 | >(100) |