Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 36

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 36
---
 were recognised by Euromoney as the Best International Bank and the Best Cash Management Bank in Singapore. We continued to grow our Premier and Wealth balances in Singapore in 2024. In the UAE, we generated $0.9bn in profit before tax. We continue to be the largest foreign bank in the UAE 12 and aim to continue growing our institutional and international wholesale banking business, leveraging the vital role the UAE and the Middle East play in global trade. In 2024, we were ranked number one in equity and debt capital markets in MENAT for the 4 th consecutive year 13 and Euromoney recognised us as the UAE’s Best International Bank. We established onshore Global Private Banking in 2022 and have continued to invest in our wealth platforms including our global online trading platform WorldTrader, launched in 2024. Our Wealth invested assets grew by 25% compared with 2023, and we saw an increase of 8% in our international new-to- bank customers during the same period. As noted above, from 1 January 2025, we are operating through four businesses, while during 2024, we operated through three global businesses: WPB, CMB and GBM. 799,000 Hong Kong WPB new-to-bank customers 75% UK corporate banking market penetration 6 HSBC internal analysis based on loans and advances to customers and customer accounts in our Hong Kong legal entity as of 30 June 2024, and the financial data presented in the 2Q24 results announcements of 13 selected peer banks. 7 Source: HKMA. 8 HSBC internal analysis based on the 9M24 PBT of HSBC UK and the financial data presented in the 3Q24 results announcements of four selected peer banks. 9 Source: Bank of England. 10 Source: Corporate Treasurer Awards 2024. 11 Source: Indian Mutual Fund Industry. 12 HSBC internal analysis based on 9M24 revenue, deposits and advances, using peers' published results. 13 Source: Bloomberg league table.

| 16 | HSBC Holdings plcAnnual Report on Form 20-F |

Strategic Report

Reshaping and focusing the Group We have continued to make progress in reshaping the Group. In 2024, we completed the sales of our businesses in Canada, Russia, Armenia and Argentina. Furthermore, we disposed of our retail banking operations in France and Mauritius. We also announced planned disposals in our private banking business in