Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001089113-25-000056
Chunk: 21

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 21
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 16.00%. Revenue excluding notable items increased by $2.4bn , primarily reflecting higher fee and other income in Wealth and CIB, partly offset by a reduction in banking NII. There was a strong performance in Insurance, due to a higher CSM release and favourable experience variances, and growth in our Private Bank and investment distribution from higher customer activity. Fee and other income rose in Wholesale Transaction Banking reflecting a strong performance in the first half of 2025, particularly in Global Foreign Exchange amid elevated market volatility, as well as in Debt and Equity Markets. NII increased by $1.1bn compared with 9M24, including an adverse impact from business disposals in Argentina and Canada of $1.5bn and an adverse impact of foreign currency translation differences of $0.4bn . Excluding these factors, NII increased due to the benefit of our structural hedge, deposit growth and lower costs of funding , which mitigated the impact of lower market interest rates . It also included a benefit from the non-recurrence of a $0.3bn loss in 3Q24 on the early redemption of legacy securities, classified as a notable item. The fall in interest rates reduced the funding costs of the trading book, which resulted in a reduction in banking NII of $0.4bn to $32.4bn . On a constant currency basis, revenue decreased by $2.3bn or 4% and banking NII fell by $0.1bn . Reported ECL of $2.9bn were $0.9bn or 44% higher than in 9M24. The charge in 9M25 included charges of $0.7bn related to the Hong Kong CRE sector, which was $0.6bn higher than in 9M24. This reflected higher allowances for new defaulted exposures, the impact of an over-supply of non-residential properties that has put continued downward pressure on rental and capital values, and updates to our models used for ECL calculations. The 9M25 period also included a charge against a single Middle Eastern exposure in the third quarter. In 9M24, the ECL charge benefited from allowance releases, mainly in the UK, and from a recovery relating to a single CIB client. On a constant currency basis, ECL charges were $1.0bn higher than in 9M24.

| HSBC Holdings plc Earnings Release 3Q25 on Form 6-K |
| 13