Company: HBCYF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0001089113-25-000046
Chunk: 11

Company: HSBC HOLDINGS PLC
Filing Date: 2025-04-29
Form: 6-K
Chunk 11
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 The transaction is structured on the basis of a price fixed on the reference date of 30 June 2024. Between this date and completion the loss on disposal will be adjusted for changes in the net asset value, including the entity’s earnings, which will continue to be consolidated into the Group’s results until disposal. On 18 February 2025, HSBC Bank Middle East, Bahrain branch, entered into a binding agreement to transfer its retail banking business in Bahrain to Bank of Bahrain and Kuwait B.S.C. The transaction, which is subject to regulatory approval, is expected to complete in the second half of 2025. The sale is expected to generate an estimated pre-tax gain on disposal of $0.1bn, which will be recognised on completion.

Bank of Communications, Co., Limited On 30 March 2025, Bank of Communications Co., Limited (‘BoCom‘), announced its intention to consider a share issuance plan of up to RMB120bn to the Ministry of Finance of the People’s Republic of China and related entities (the ‘Issuance’). The Issuance was approved at an Extraordinary General Meeting on 16 April 2025 and is subject to final approval by relevant government and regulatory authorities. The Issuance is part of a series of policy actions announced by the People’s Bank of China, Ministry of Finance, National Financial Regulatory Administration and China Securities Regulatory Commission on 24 September 2024. The Issuance is intended to further strengthen BoCom’s capital and enhance capital adequacy, in order to, among other things, provide strong support for BoCom to respond to the evolving domestic and international economic landscape and maintain its own growth in the future. Upon completion of the Issuance, we anticipate that our stake in BoCom will reduce from 19.03% to approximately 16%, resulting in a pre-tax loss in the range of $1.2bn to $1.6bn to be recognised in the income statement, subject to timing of execution, foreign exchange and other movements. The loss would not be deductible for tax purposes as a consequence of our shareholding in BoCom being held for long-term investment purposes. The loss is expected to have no material impact on HSBC’s capital ratios or distribution capacity, and will be treated as a material notable item and be excluded from our dividend payout ratio. We continue to recognise our proportionate share of BoCom’s profit or loss through associate income. For further details on how we account for our share of profit or loss