Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 174

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 174
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 as well as in our legal entities in the US and Hong Kong.

| 94 | HSBC Holdings plcAnnual Report on Form 20-F |

Financial summary

Liabilities Customer accounts of $1.7tn increased by $43bn or 3% on a reported basis. This included an adverse impact of foreign currency translation differences of $32bn . On a constant currency basis, customer accounts increased by $75bn , reflecting the following movements. In WPB, customer accounts grew by $31bn , reflecting higher interest- bearing savings and time deposit balances due to strong deposit inflow as interest rates remained high. The increase in customer accounts included growth in our main legal entities in Asia (up $30bn) and in HSBC UK (up $6bn) . In CMB, customer accounts increased by $25bn , primarily in our legal entities in Asia (up $12bn), including in Hong Kong (up $8bn) due to an increase in term deposits and in mainland China (up $3bn) due to an increase in current and savings accounts. Balances also increased in HSBC Bank plc (up $9bn) driven by organic growth from existing customers as well as new to bank customers, and in our main legal entity in Mexico (up $3bn). In GBM, customer accounts increased by $20bn , due to higher balances in our legal entities in Asia (up $9bn) supported by term deposit campaigns, and in HSBC Bank plc (up $8bn) driven by an increase in short-term money market account balances. Balances also rose in our main legal entity in the Middle East (up $3bn), including in term deposits and current accounts. Debt securities in issue increased by $12bn or 13% , primarily in HSBC Bank plc mainly driven by new commercial paper and certificates of deposit issued to meet liquidity and funding requirements. Derivative liabilities increased by $30bn or 13% , which is consistent with the increase in derivative assets, since the underlying risk is broadly matched. Liabilities of disposal groups held for sale decreased by $79bn or 73% following the completion of the sales of our retail banking operations in France and our banking operations in Canada during 2024. Other liabilities decreased by $13bn or 6% , including from a $9bn reduction in settlement account balances in our main legal entity in the US. Equity Total shareholders’ equity, including non-controlling interests, of $192bn was stable compared with 31