Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001654954-25-012267
Chunk: 33

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 33
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 items. For further details, see 'Strategic transactions supplementary analysis' on page 31 .

Profit before tax of $1.6bn was $0.1bn or 5% lower than in 3Q24 on a constant currency basis. The reduction was primarily due to an increase in operating expenses of $0.2bn or 13% on a constant currency basis, reflecting an inflationary impact and higher planned investment spend, and higher ECL charges of $0.1bn relating to the Commercial Banking portfolio. This was partly offset by an increase in revenue of $0.2bn or 6% driven by an increase in Banking NII of $0.2bn on a constant currency basis, reflecting the benefit of our structural hedge and balance sheet growth, partly offset by lower fee and other income.

Corporate and Institutional Banking - constant currency basis

9M25 compared with 9M24

| Results - on a constant currency basis           |                   |             |               |      |                    |
|                                                  | Nine months ended |             |               |      |                    |
|                                                  |                   |             |      Variance |      |                    |
|                                                  |                   |             | 9M25 vs. 9M24 |      |                    |
|                                                  |       30 Sep 2025 | 30 Sep 2024 |               |      | of which strategic 
      transactions1 |
|                                                  |                $m |          $m |            $m |    % |                 $m |
| Revenue                                          |            20,846 |      20,111 |           735 |    4 |               -575 |
| ECL                                              |              -463 |        -337 |          -126 |  -37 |                 39 |
| Operating expenses                               |           -11,474 |     -10,621 |          -853 |   -8 |                 64 |
| Share of profit/(loss) from associates and joint 
 ventures                                         |                 - |           1 |            -1 | -100 |                  - |
| Profit before tax                                |             8,909 |       9,154 |          -245 |   -3 |               -472 |

1 Impact of strategic transactions classified as material notable items. For further details, see 'Strategic transactions supplementary analysis' on page 31 .

| Management view of revenue - on a constant currency 
 basis                                               |                   |             |               |      |                    |
|                                                     | Nine months ended