Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 553

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 553
---
,999 |                    6,171 |          -2,478 | 15,124 |
| Less: fee expense           |                    -2,128 |              -212 |                   -3,459 |           2,445 | -3,354 |
| Net fee income              |                     5,304 |             3,787 |                    2,712 |             -33 | 11,770 |

Net fee income included $ 6,816m of fees earned on financial assets that were not at fair value through profit or loss, other than amounts

included in determining the effective interest rate (2023: $ 6,971m ; 2022: $ 6,410m ), $ 1,951m of fees payable on financial liabilities that were

not at fair value through profit or loss, other than amounts included in determining the effective interest rate (2023: $ 1,872m ; 2022: $ 1,613m ),

$ 3,480m of fees earned on trust and other fiduciary activities (2023: $ 3,452m ; 2022: $ 3,492m ) and $ 401m of fees payable relating to trust and

other fiduciary activities (2023: $ 333m ; 2022: $ 370m ).

| HSBC Holdings plcAnnual Report on Form 20-F | 389 |

3 Net income/(expense) from financial instruments measured at fair value

through profit or loss

|                                                                                                                                                       |   2024 |   2023 |    2022 |
|                                                                                                                                                       |     $m |     $m |      $m |
| Net income/(expense) arising on:                                                                                                                      |        |        |         |
| Net trading activities                                                                                                                                | 23,186 | 20,391 |   2,372 |
| Other instruments managed on a fair value basis                                                                                                       | -2,070 | -3,730 |   7,906 |
| Net income from financial instruments held for trading or managed on a fair value basis                                                               | 21,116 | 16,661 |  10,278 |
| Financial assets held to meet liabilities under insurance and investment contracts                                                                    |  6,210 |  8,086 | -14,392 |
| Liabilities to customers under investment contracts                                                                                                   |   -309 |   -199 |     561 |
| Net income/(expense) from