Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001089113-25-000056
Chunk: 34

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 34
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145 |         165 |           -20 |  -12 |                              -1 |
| –  Other2                                                 |            90 |         -82 |           172 | >100 |                              49 |
| Revenue excluding notable items                           |         6,735 |       6,778 |           -43 |   -1 |                             -73 |
| Notable items                                             |            -6 |           — |            -6 |  n/a |                              -6 |
| Revenue                                                   |         6,729 |       6,778 |           -49 |   -1 |                             -79 |

1 For a description of how we derive banking NII, see page 8 . In CIB, there are no adjustments to NII to derive banking NII. The internal funding costs of trading and fair value net assets are recorded in ’fee and other income’. On consolidation, this funding is eliminated in Corporate Centre. In 3Q25, this funding cost was $2.4bn (3Q24: $3.1bn ). 2 Includes allocated revenue from Markets Treasury and hyperinflationary impacts. It also includes notional tax credits. 3 Impact of strategic transactions classified as material notable items. For further details, see ‘Strategic transactions supplementary analysis‘ on page 31 . Profit before tax of $2.5bn was $0.5bn or 16% lower than in 3Q24 on a constant currency basis. Revenue was $49m or 1% lower on a constant currency basis. Banking NII was $0.1bn higher, which was more than offset by a fall in fee and other income of $0.2bn in the context of a strong 3Q24, which benefited from higher levels of volatility. The reduction was in Global Foreign Exchange due to a challenging market environment, which included margin compression, and in Debt and Equity Markets reflecting lower client activity due to market uncertainty on the path of interest rates, and a higher cost of funding related to trading activities, primarily on bullion balances from higher market demand. These reductions were partly offset by an increase in Markets Treasury allocations and the non-recurrence of adverse hyperinflationary impacts in Argentina in 3Q24. ECL of $0.2bn were broadly stable compared with 3Q24 on a constant currency basis, as a net release of charges in Asia mitigated a charge against a single Middle Eastern exposure in 3Q25. Operating expenses were $