Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 392

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 392
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 the gain on sale was recognised through a combination of the consolidation of HSBC Bank Canada‘s results in the Group‘s results since this date, and the remaining gain on sale recognised at completion, inclusive of the recycling of related reserves and fair value gains on related hedges. The Board has adopted a dividend policy designed to provide sustainable cash dividends, while retaining the flexibility to invest and grow the business in the future, supplemented by additional shareholder distributions, if appropriate. The Board has established a target dividend payout ratio of 50% for 2025, subject to meeting capital requirements. In addition to dividend payments, HSBC announced a share buy-back of up to $2bn on 22 February 2024 and further share buy-backs of up to $3bn on 7 May 2024, 1 August 2024 and 30 October 2024, bringing the total announced during 2024 to $11bn. On 21 February 2024, an interim dividend of $0.31 per share for the 2023 full-year was announced, followed by a special dividend of $0.21 per share on 30 April 2024 and interim dividends of $0.10 each announced on 30 April 2024, 31 July 2024 and 29 October 2024. For further details of dividend payments, see page 461 . Risk, regulatory and legal considerations The Board, advised by the Group Risk Committee, promotes a strong risk governance culture that shapes the Group’s risk appetite and supports the maintenance of a strong risk management framework, giving consideration to the measurement, evaluation, acceptance and management of risks, including emerging risks. The Board considered the Group’s approach to risk including its regulatory obligations. A number of key frameworks, control documents, core processes and legal responsibilities were also reviewed and approved as required by the Board and/or its relevant committees. These included: – the Group’s risk appetite framework and risk appetite statement; – the individual liquidity adequacy assessment process; – the individual capital adequacy assessment process; – the Group’s obligations under the Modern Slavery Act and approval of the Modern Slavery and Human Trafficking Statement; – the Group Recovery Plan; – the efficacy of Model Risk Management ( ’ MRM ’ ) activities within the Bank; – the Group’s risk data aggregation and risk reporting framework aligned to the Basel Committee on Banking Supervision 239 Principles; – the Group ’ s PRA Operational Resilience self-assessment regulatory submission; – the internal controls framework; and – the