Company: HBCYF
Filing Date: 2025-02-19
Form Type: 6-K
Source: 0001654954-25-001665
Chunk: 5

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-19
Form: 6-K
Chunk 5
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 held for sale of our retail banking business in France, items relating to the sale of our banking business in Canada, and the recognition of certain deferred tax assets.

3 Unless otherwise stated, regulatory capital ratios and requirements are based on the transitional arrangements of the Capital Requirements Regulation in force at the time. References to EU regulations and directives (including technical standards) should, as applicable, be read as references to the UK's version of such regulation or directive, as onshored into UK law under the European Union (Withdrawal) Act 2018, and as may be subsequently amended under UK law.

4 Regulatory numbers and ratios are as presented at the date of reporting. Small changes may exist between these numbers and ratios and those submitted in regulatory filings. Where differences are significant, we may restate in subsequent periods.

5 The liquidity coverage ratio is based on the average value of the preceding 12 months. The net stable funding ratio is based on the average value of four preceding quarters.

6 We enhanced our liquidity consolidation process in 2Q24 by revising provisions that addressed historical limitations. As our Group LCR and NSFR are reported on an average basis, the benefit of these changes incrementally increased our LCR and NSFR by circa 3% and 11% during the year, respectively. Compared to year ended 31 December 2023, the increase in LCR was mainly driven by these enhancements. The associated NSFR increase driven by these changes was partly offset by higher required stable funding primarily due to a rise in financial investments and derivatives activities.

7 We have enhanced our calculation processes during 1Q24 and our NSFR comparatives have been restated.

Highlights

|                                                              | Year ended 31 Dec 
              2024 |    2023 |
|:-------------------------------------------------------------|------------------:|--------:|
|                                                              |                $m |      $m |
| Reported                                                     |                   |         |
| Revenue1,3                                                   |            65,854 |  66,058 |
| Change in expected credit losses and other credit impairment 
 charges                                                      |            -3,414 |  -3,447 |
| Operating expenses5                                          |           -33,043 | -32,070 |
| Share of profit in associates and joint ventures less        
 impairment6                                                  |             2,912 |    -193 |
| Profit before tax                                            |            32,309 |  30,348 |
| Tax charge                                                   |            -7,310 |  -5,789 |
|