Company: HBCYF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0001089113-25-000052
Chunk: 7

Company: HSBC HOLDINGS PLC
Filing Date: 2025-07-30
Form: 6-K
Chunk 7
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B and Hong Kong business segments, supported by higher customer activity, and in Foreign Exchange and Debt and Equity Markets driven by volatile market conditions. This was partly offset by higher expected credit losses and other credit impairment charges (‘ECL‘) and a targeted increase in operating expenses, which included higher spend and investment in technology. – Annualised return on average tangible equity (‘RoTE‘) in 1H25 was 14.7% , compared with 21.4% in 1H24. Excluding notable items, annualised RoTE in 1H25 was 18.2% , a rise of 1.2 percentage points compared with 1H24. – Revenue decreased by $3.2bn or 9% to $34.1bn compared with 1H24. The reduction reflected the year-on-year impact of notable items, mainly from disposals in Canada and Argentina in 1H24. Excluding notable items, revenue increased primarily due to fee and other income growth in Wealth and in Foreign Exchange and in Debt and Equity Markets. Constant currency revenue excluding notable items rose by $1.9bn to $35.4bn compared with 1H24. – Net interest income (‘NII’) decreased by $0.1bn compared with 1H24, including an – adverse impact of $0.4bn from foreign currency translation differences. On a constant currency basis, NII increased as the benefit of our structural hedge and lower costs of funding offset reductions due to the business disposals in Argentina and Canada and the impact of lower market interest rates on asset re-pricing. The reduction in interest rates reduced the funding costs of the trading book, which led to a fall in banking net interest income (‘banking NII‘) of $0.9bn or 4% compared with 1H24. – Net interest margin (‘NIM’) of 1.57 % decreased by 5 basis points (‘bps‘) compared with 1H24, mainly due to an adverse impact from foreign currency translation differences and the disposal of our business in Argentina, partly offset by the benefit of our structural hedge. – ECL of $1.9bn were $0.9bn higher than in 1H24. The charge in 1H25 included charges related to the Hong Kong commercial real estate (‘CRE’) sector. This reflected updates to our models used for ECL calculations, an increase in allowances for new defaulted exposures