Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001654954-25-012267
Chunk: 32

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 32
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 compression on mortgages.

Fee and other income of $1.4bn fell by $0.1bn or 4% due to lower fees on foreign exchange transactions in Retail Banking and Wealth.

ECL of $0.6bn in 9M25 increased by $0.4bn compared with 9M24 on a constant currency basis. The increase mainly reflected a more normalised level of ECL in 9M25 and the non-recurrence of allowance releases in 9M24.

Operating expenses of $4.1bn increased by $0.4bn or 11% on a constant currency basis. The increase primarily reflected higher planned investment spend in technology, including on operational resilience, and an increase in restructuring and other related costs. This was partly mitigated by continued cost discipline.

3Q25 compared with 3Q24

| Results - on a constant currency basis           | Quarter ended |             |               |     |                    |
|:-------------------------------------------------|--------------:|------------:|--------------:|----:|:-------------------|
|                                                  |               |             |      Variance |     |                    |
|                                                  |               |             | 3Q25 vs. 3Q24 |     |                    |
|                                                  |   30 Sep 2025 | 30 Sep 2024 |               |     | of which strategic 
 transactions1      |
|                                                  |            $m |          $m |            $m |   % | $m                 |
| Revenue                                          |         3,341 |       3,165 |           176 |   6 | -                  |
| ECL                                              |          -271 |        -180 |           -91 | -51 | -                  |
| Operating expenses                               |        -1,428 |      -1,262 |          -166 | -13 | -                  |
| Share of profit/(loss) from associates and joint 
 ventures                                         |             - |           - |             - |   - | -                  |
| Profit before tax                                |         1,642 |       1,723 |           -81 |  -5 | -                  |

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                                               | Quarter ended |             |               |      |                    |
|:----------------------------------------------------|--------------:|------------:|--------------:|-----:|:----------------