Company: HBCYF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0001089113-25-000052
Chunk: 29

Company: HSBC HOLDINGS PLC
Filing Date: 2025-07-30
Form: 6-K
Chunk 29
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 1H25 Included a 1.1 percentage point adverse impact from notable items. For details of our RoTE calculation by business segment, see page 40 . 4 Impact of strategic transactions classified as material notable items. For further details, see ‘Strategic transactions supplementary analysis‘ on page 29 . Financial performance Profit before tax of $2.1bn was $0.2bn lower than in 1H24 on a constant currency basis, mainly due to the impact of strategic transactions of $0.2bn . Revenue of $7.0bn was $0.1bn or 1% higher on a constant currency basis. This included an adverse impact of $0.4bn from strategic transactions. Banking NII of $3.4bn decreased by $0.5bn or 12% , primarily driven by the impact of disposals in Canada and Argentina of $0.4bn, and the effects of lower interest rates on deposits. This reduction was partly offset by balance sheet growth. Fee and other income of $3.6bn was up by $0.7bn or 22% , driven by Wealth due to broad-based growth across all products and in multiple markets, including Hong Kong, mainland China, Singapore and Taiwan. In Wealth, fee and other income of $3.3bn was up $0.5bn or 19% . – Private Bank increased by $0.2bn or 23% , as increased customer activity led to strong performances in brokerage and trading, and from higher annuity fees, driven by growth in invested asset balances. – Insurance increased by $0.2bn or 23% , reflecting a higher CSM release given continued year-on-year growth in our CSM balance. The 1H25 Insurance manufacturing CSM balance was $13.5bn, up $1.2bn or 10%, primarily reflecting new business CSM growth, which included a reduction of $0.9bn from the reclassification of our life insurance business in France to held for sale. ECL of $0.5bn in 1H25 increased by $37m compared with 1H24 on a constant currency basis. Operating expenses of $4.5bn were $0.2bn or 4% higher than in 1H24 on a constant currency basis, primarily reflecting continued investments in Wealth, higher spend and investment in technology, the impact of inflation and an increase in restructuring and other related costs. These increases were partly offset