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

Company: HSBC HOLDINGS PLC
Filing Date: 2025-04-29
Form: 6-K
Chunk 29
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.2bn or 4% higher than in 1Q24 on a constant currency basis. The increase included restructuring and other related costs, and costs associated with business wind-downs. It also reflected higher spend and investment in technology, and inflationary impacts. These increases were in part mitigated by continued cost discipline and the impact of the sale of our banking business in Canada.

International Wealth and Premier Banking – constant currency basis

| Results – on a constant currency basis         | Quarter ended |             |             |               |     |                                 |
|:-----------------------------------------------|--------------:|------------:|------------:|--------------:|----:|--------------------------------:|
|                                                |               |             |             |      Variance |     |                                 |
|                                                |               |             |             | 1Q25 vs. 1Q24 |     |                                 |
|                                                |   31 Mar 2025 | 31 Dec 2024 | 31 Mar 2024 |               |     | of which strategictransactions1 |
|                                                |            $m |          $m |          $m |            $m |   % |                              $m |
| Revenue                                        |         3,511 |       3,131 |       3,496 |            15 |   — |                            -286 |
| ECL                                            |          -227 |        -304 |        -208 |           -19 |  -9 |                              25 |
| Operating expenses                             |        -2,106 |      -2,335 |      -2,108 |             2 |   — |                             168 |
| Share of profit/(loss) from associates and JVs |            10 |           4 |          12 |            -2 | -17 |                               — |
| Profit before tax                              |         1,188 |         496 |       1,192 |            -4 |   — |                             -93 |

1 Impact of strategic transactions classified as material notable items. For further details, see ‘Strategic transactions supplementary analysis‘ on page 27 .

| HSBC Holdings plcEarnings Release 1Q25 on Form 6-K | 21 |

| Management view of revenue – on a constant currency basis | Quarter ended 
   31 Mar 2025 | 31 Dec 2024 |                     31 Mar 2024 | Variance |        |      |
|:----------------------------------------------------------|--------------:|------------:|--------------------------------:|---------:|-------: