Company: HBCYF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0001089113-25-000052
Chunk: 22

Company: HSBC HOLDINGS PLC
Filing Date: 2025-07-30
Form: 6-K
Chunk 22
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 before tax                                                        |         6,326 |      8,989 |      9,695 |        -2,663 |    -30 | -335 |

1 For details, see ‘Impact of strategic transactions‘ on page 29 . 2Q25 compared with 2Q24 – performance commentary Profit before tax Reported profit before tax of $6.3bn was $2.6bn , or 29% , lower than in 2Q24, primarily reflecting a dilution loss of $1.1bn and the recognition of an impairment of $1.0bn on our associate BoCom. On a constant currency basis, profit before tax was $2.7bn lower than in 2Q24, and excluding notable items it was broadly stable. Revenue Reported revenue decreased by $0.1bn to $16.5bn , which included an adverse impact following the disposal of our business in Argentina and a $1.1bn dilution loss following the completion of BoCom’s capital issuance. The reduction was partly offset by higher fee and other income in Wealth. There were strong performances in Insurance, due to a higher CSM release, as well as growth in our Private Bank and investment distribution from higher customer activity. Fee and other income also increased in Wholesale Transaction Banking, particularly in Global Foreign Exchange from elevated market volatility, as well as in Debt and Equity Markets. NII increased by $0.3bn compared with 2Q24. The rise reflected the benefit of our structural hedge, and lower costs of funding, partly offset by reductions due to our business disposal in Argentina and the impact of lower market interest rates on asset re-pricing, particularly due to the fall in HIBOR in 2Q25. The fall in interest rates reduced the funding costs of the trading book by $0.5bn, resulting in a fall of $0.2bn in banking NII to $10.7bn . On a constant currency basis, revenue decreased by $0.2bn or 1% . Banking NII fell by $0.2bn on a constant currency basis. ECL Reported ECL in 2Q25 of $1.1bn increased by $0.7bn compared with 2Q24. The charge in 2Q25 included charges of $0.4bn related to the Hong Kong CRE sector. This reflected updates to our models used for ECL calculations, which had an impact of $0.1bn, an increase in allowances