Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 178

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 178
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 segments under IFRS 8 ‘Operating Segments’ and are presented below and in Note 10 : Segmental analysis on page 405 . Following our organisational announcement in October 2024, ef fective from 1 January 2025 the Group’s operating segments will comprise four new businesses – Hong Kong, UK, Corporate and Institutional Banking, and International Wealth and Premier Banking – along with Corporate Centre. These will replace our previously reported operating segments up to 31 December 2024.

| Basis of preparationThe Group CEO, supported in 2024 by the rest of the GEC, isconsidered the Chief Operating Decision Maker (‘CODM’) for thepurposes of identifying the Group’s reportable segments. Globalbusiness results are assessed by the CODM on the basis ofconstant currency performance. We separately disclose ‘notableitems’, which are components of our income statement thatmanagement would consider as outside the normal course ofbusiness and generally non-recurring in nature. Constant currencyperformance information for 2023 and 2022 are presented asdescribed on page85. As required by IFRS 8, reconciliations of thetotal constant currency global business results to the Group’sreported results are presented on page406.Supplementary reconciliations from reported to constant currencyresults by global business are presented on pages108to110forinformation purposes.Global business performance is also assessed using return ontangible equity (‘RoTE’). A reconciliation of global business RoTE tothe Group’s RoTE is provided on page132.Our operations are closely integrated and, accordingly, thepresentation of data includes internal allocations of certain items ofincome and expense. These allocations include the costs of certainsupport services and global functions to the extent that they can bemeaningfully attributed to global businesses and legal entities. Whilesuch allocations have been made on a systematic and consistentbasis, they necessarily involve a degree of subjectivity. Costs thatare not allocated to global businesses are included in CorporateCentre.Where relevant, income and expense amounts presented includethe results of inter-segment funding along with inter-company andinter-business line transactions. All such transactions are undertakenon arm’s length terms. The intra-Group elimination items for theglobal businesses are presented in Corporate Centre.HSBC Holdings incurs the liability of the UK bank levy, with the costbeing recharged to its UK operating subsidiaries. The current yearexpense will be reflected in the fourth quarter as it is assessed onour balance sheet position as at 31 December.The results of main legal entities are