Company: HBCYF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0001089113-25-000052
Chunk: 9

Company: HSBC HOLDINGS PLC
Filing Date: 2025-07-30
Form: 6-K
Chunk 9
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ution and impairment losses of $2.1bn in BoCom . Profit after tax of $4.9bn was $2.0bn or 29% lower compared with 2Q24. On a constant currency basis, profit before tax decreased by $2.7bn or 30% . – Revenue fell by $0.1bn to $16.5bn compared with 2Q24. The reduction i ncluded the impact of notable items, as mentioned above. Excluding these, revenue increased primarily due to fee and other income growth in Wealth in our IWPB and Hong Kong business segments, supported by higher customer activity, and in Foreign Exchange and in Debt and Equity Markets, driven by volatile market conditions . – Constant currency revenue excluding notable items rose by $0.8bn to $17.7bn . – NIM of 1.56% decreased by 3 bps compared with 1Q25, driven by lower margins in Asia. – ECL of $1.1bn were $0.7bn higher than in 2Q24. The charge in 2Q25 included charges related to the Hong Kong CRE sector. This reflected updates to our models used for ECL calculations, an increase in allowances for new defaulted exposures, as well as the over-supply of non-residential properties putting continued downward pressure on rental and capital values. In 2Q24, the ECL charge benefited from a release of allowances in the UK and from a recovery relating to a single CIB client. – Operating expenses of $8.9bn rose by $0.8bn or 10% compared with 2Q24. The increase was related to restructuring and other related costs associated with our organisational simplification, and from higher spend and investment in technology. These increases were partly offset by the impact of the disposal of our business in Argentina. – Customer lending increased by $37bn compared with 1Q25 on a reported basis and by $5bn on a constant currency basis. – Customer accounts increased by $52bn compared with 1Q25 on a reported basis and by $2bn on a constant currency basis.

| HSBC Holdings plc Interim Report 2025 on Form 6-K |
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| Overview |     | Interim management report |     | Interim condensed consolidatedfinancial statements |     | Additional information |

O utlook – We operate in a global environment characterised by constant change and uncertainty, creating volatility in both economic forecasts