Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001089113-25-000056
Chunk: 37

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 37
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 of Communications Co., Limited (‘BoCom‘) . In 9M24, notable items included a net $3.6bn gain related to business disposals in Canada and Argentina, as well as a $0.3bn loss related to the early redemption of legacy securities. The Group’s interest in BoCom reduced from 19.03% to 16.00% following the completion of a capital issuance by BoCom on 17 June 2025. The dilution of the Group’s interest resulted in a pre-tax loss of $1.1bn, recognised in other operating income/expense in the Group’s consolidated income statement. The loss is not deductible for tax purposes as a consequence of our shareholding in BoCom being held for long- term investment purposes. The Group’s investment in BoCom continues to be classified as an associate. In addition, the Group’s impairment test performed on the carrying amount at 30 June 2025 resulted in an impairment of $1.0bn, as the recoverable amount as determined by a value-in-use calculation was lower than the carrying value recognised within impairment of interest in associates. Consistent with prior periods, our value-in-use calculation uses both historical experience and market participant views to estimate future cash flows, relevant discount rates and associated capital assumptions. Neither the dilution loss nor the impairment loss had a material impact on HSBC’s capital ratios or distribution capacity. Both amounts are treated as a material notable item, and therefore are excluded from our dividend payout ratio. We remain strategically committed to mainland China and continue our valued, strategic partnership with BoCom. Revenue was $4.3bn lower on a constant currency basis. This primarily reflected the adverse impact of notable items, comprising the non- recurrence of notable items in 9M24 as mentioned above, as well as the dilution loss related to BoCom in 9M25. Banking NII was a net expense of $0.6bn . This was stable compared with 9M24 on a constant currency basis. Banking NII in 9M25 removes from NII the internal cost to fund trading and fair value net assets, predominantly in CIB, of $7.1bn (9M24: $8.6bn ). Fee and other income of $0.6bn was $0.2bn higher, primarily due to fair value gains on non-qualifying hedges related to our retained French portfolio of home and certain other loans and the non-recurrence of an impairment in