Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 141

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 141
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,000 customers per month in these markets decreased from 2.2 to 2.0. We had a reduction in complaints in our top three markets (the UK, Hong Kong and Mexico), which comprise 86% of complaints globally. In the UK, complaints fell 9%. During 2024, our two key priorities continued to be complaints prevention, and improving the quality of resolution of the complaints we received. We made good progress in both areas, driven by targeted intervention in priority areas and ongoing regular oversight. This has included identifying prominent complaint themes – such as telephony customer experience, transaction disputes and international payment processing – and allocating them to individual executives as accountable ‘owners’ to remedy the root cause. The decrease in complaints in Hong Kong was primarily driven by improvements in capabilities that make banking with HSBC easier for customers. A deeper customer- centric culture, regular reviews, root cause analysis of customer feedback and greater collaboration across business lines to address emerging customer pain points, also contributed to the fall in complaints. In Mexico, there was a 5.3% fall in the volume of total complaints in 2024 compared with 2023, with unrecognised debit card charges down by 9% despite an increase in transaction volumes. This was achieved through targeted actions, including improving fraud processes and the introduction of enhancements to the way customers receive purchase authorisations. In our private bank, we received 647 complaints, an increase of 140 compared with 2023. This was largely due to the inclusion of complaint data for the private banking operation in India, which received 128 complaints in 2024. Complaint data for this business was reported in WPB figures in 2023. Banking products and service issues represented the largest volume of complaints overall, a high proportion of which were attributable to issues with payment processing and credit cards. Overall, the private bank resolved 646 complaints.

| WPB complaint volumes1(per 1,000 customers per month) |   |      |      |
|                                                       |   | 2024 | 2023 |
| Total2                                                |   |  2.0 |  2.2 |
| UK3                                                   | q |  1.0 |  1.1 |
| Hong Kong3                                            | q |  0.7 |  0.9 |
| Mexico3                                               | q |  5.0 |  5.2 |

1 A complaint is any expression of dissatisfaction about WPB’s activities, products or services