Company: HBCYF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0001089113-25-000046
Chunk: 2

Company: HSBC HOLDINGS PLC
Filing Date: 2025-04-29
Form: 6-K
Chunk 2
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 currency translation differences and the disposal in Argentina, banking NII was stable compared with 4Q24 . – Net interest margin (‘NIM’) of 1.59% decreased by 4 basis points (‘bps‘) compared with 1Q24, mainly due to lower interest rates . NIM increased by 5bps compared with 4Q24 as the decrease in funding costs of liabilities was larger than the reduction on asset yields. – ECL of $0.9bn were $0.2bn higher than in 1Q24 as we increased allowances to reflect heightened uncertainty and a deterioration in the forward economic outlook due to geopolitical tensions and higher trade tariffs. – Operating expenses of $8.1bn were stable compared with 1Q24. Growth from higher spend and investment in technology, the impacts of inflation and restructuring and other related costs associated with our organisational simplification of $0.1bn in 1Q25 were broadly offset by the impact of our disposals in Canada and Argentina. Target basis operating expenses were $7.9bn or $0.3bn higher than in 1Q24. – Customer lending balances increased by $14bn compared with 4Q24, including favourable foreign currency translation differences. On a constant currency basis, lending balances increased by $2bn . This included growth in term lending in our CIB segment, which was broadly offset by a reduction from the reclassification of $7bn in home and other loans retained in France following the disposal of our retail banking operations to ‘ financial investments measured at fair value through other comprehensive income ‘ . – Customer accounts increased by $12bn compared with 4Q24, including favourable foreign currency translation differences. On a constant currency basis, customer accounts decreased by $9bn , mainly from seasonal outflows in our CIB segment , partly offset by an increase in IWPB, notably in our legal entity in Hong Kong and in HSBC Bank plc . – Common equity tier 1 (‘CET1’) capital ratio of 14.7 % decreased by 0.2 percentage points compared with 4Q24, driven by an increase in risk-weighted assets (‘RWAs‘), partly offset by an increase in CET1 capital. The increase in RWAs was mainly driven by foreign currency translation differences, asset quality and asset size movements. – The Board has approved a first interim dividend for 2025 of $ 0.10 per share. On 25 April, we completed the $2bn