Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001089113-25-000056
Chunk: 23

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 23
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. 3 Net interest margin is net interest income expressed as an annualised percentage of AIEA. NII in 3Q25 of $8.8bn increased by $1.1bn or 15% compared with 3Q24, which included a benefit from the non-recurrence of a $0.3bn loss in 3Q24 on the early redemption of legacy securities . The rise also reflected deposit growth and the benefit of our structural hedge, partly offset by a reduction of $0.3bn due to the disposal of our business in Argentina. NII in 3Q25 of $8.8bn was $0.3bn higher compared with 2Q25, driven by deposit growth, the benefit of our structural hedge particularly in HSBC UK, and foreign currency translation differences. This was partly offset by increased costs to fund the trading book, reflecting growth in the trading book. NII in 9M25 of $25.6bn was $1.1bn higher compared with 9M24, which included an adverse impact of $1.5bn from business disposals in Canada and Argentina, partly offset by a favourable impact of the non-recurrence of a $0.3bn loss in 9M24 on the early redemption of legacy securities. NII growth was driven by the benefit of our structural hedge, an increase in deposits and lower costs of funding, which mitigated the impact of lower market interest rates. NIM for 3Q25 of 1.57% was 11bps higher compared with 3Q24, including the benefit from the non-recurrence of the loss on early redemption of legacy securities in 3Q24, offset by a reduction due to the disposal of our business in Argentina. NIM was up 1bp in 3Q25 compared with 2Q25, reflecting deposit growth particularly in Asia and the benefit of our structural hedge. NIM for 9M25 was 1.57%, stable compared with 9M24, as improved margins in our main markets were offset by the impact of the disposal of our business in Argentina. Interest income in 3Q25 of $24.4bn decreased by $0.2bn or 1% compared with 2Q25, and by $2.9bn or 11% compared with 3Q24, due to the business disposals referred to above and lower market interest rates. Excluding the favourable effect of foreign currency translation differences,