Company: HBCYF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0001654954-25-004763
Chunk: 10

Company: HSBC HOLDINGS PLC
Filing Date: 2025-04-29
Form: 6-K
Chunk 10
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 1Q24.

Impact of strategic transactions

To aid the understanding of our results, we separately disclose the impact of strategic transactions classified as material notable items on the results of the Group and our business segments. At 1Q25, strategic transactions classified as material notable items in current or relevant comparative periods relate to transactions completed in 2024, comprising the disposal of our retail banking operations in France, the disposal of our banking business in Canada and the sale of our business in Argentina.

The impact of strategic transactions also includes the distorting impact between the periods of the operating income statement results related to acquisitions and disposals that affect period-on-period comparisons. These impacts are not included in our notable or material notable items. The impact of strategic transactions is computed by including the operating income statement results of each business in any period for which there are no results in the comparative period.

➢ For further details, see 'Strategic transactions supplementary analysis' on page 26 .

Foreign currency translation differences

Foreign currency translation differences reflect the movements of the US dollar against most major currencies during 2025. We exclude them to derive constant currency data, allowing us to assess balance sheet and income statement performance on a like-for-like basis and to better understand the underlying trends in the business.

Foreign currency translation differences for 1Q25 are computed by retranslating into US dollars for non-US dollar branches, subsidiaries, joint ventures and associates:

- the income statements for 4Q24 and 1Q24 at the average rate of exchange for 1Q25;

- the closing prior period balance sheets at the prevailing rates of exchange on 31 March 2025.

No adjustment has been made to the exchange rates used to translate foreign currency-denominated assets and liabilities into the functional currencies of any HSBC branches, subsidiaries, joint ventures or associates. The constant currency data of our operations in Türkiye has not been adjusted further for the impacts of hyperinflation. When reference is made to foreign currency translation differences in tables or commentaries, comparative data reported in the functional currencies of HSBC's operations has been translated at the appropriate exchange rates applied in the current period on the basis described above.

Summary consolidated income statement

|                                                                   | Quarter ended 
   31 Mar 2025 | 31 Dec 2024 | 31 Mar 2024 |
|:------------------------------------------------------------------|--------------:|------------:|------------:|
|                                                                   |            $m |          $m |          $m |
| Net interest income                                               |         8,302