Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001654954-25-012267
Chunk: 1

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 1
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24. Excluding notable items, annualised RoTE in 3Q25 was 16.4%, a rise of 0.5 percentage points compared with 3Q24.

- Revenue increased by $0.8bn or 5% to $17.8bn compared with 3Q24. There was growth in fee and other income in Wealth in our International Wealth and Premier Banking ('IWPB') and Hong Kong business segments, supported by higher customer activity, while fee and other income fell in Global Foreign Exchange and in Debt and Equity Markets in our Corporate and Institutional Banking ('CIB') segment, from reduced client activity amid lower market volatility. The increase also reflected growth in banking NII. Constant currency revenue excluding notable items rose by $0.5bn to $17.9bn.

- Net interest income ('NII') of $8.8bn increased by $1.1bn or 15% compared with 3Q24, which included a benefit from the non-recurrence of a $0.3bn loss in 3Q24 on the early redemption of legacy securities. The rise also reflected deposit growth and the benefit of our structural hedge, partly offset by a reduction of $0.3bn due to the disposal of our business in Argentina. The fall in interest rates reduced the funding costs of the trading book compared with 3Q24 by $0.7bn, resulting in an increase in banking NII of $0.5bn or 4% to $11.0bn.

- Net interest margin ('NIM') of 1.57% increased by 11 basis points ('bps') compared with 3Q24, including a benefit from the non-recurrence of a loss on the early redemption of legacy securities in 3Q24, partly offset by the disposal of our business in Argentina. NIM increased by 1bps compared with 2Q25, as a rise in NII was partly offset by an increase in average interest-earning assets ('AIEA').

- Expected credit losses ('ECL') of $1.0bn were stable compared with 3Q24. The charge in 3Q25 primarily related to stage 3 charges on wholesale exposures, including incremental charges related to the Hong Kong commercial real estate ('CRE') sector, a charge against a Middle Eastern exposure and charges against a small number of exposures in our UK business. This was partly offset by releases due to a stabilisation in the macroeconomic outlook during 3