Business
HSBC Holdings plc - AGM Statements
HSBC Holdings plc - AGM Statements.
About this update from Hsbc Holdings Plc
[{"type":"text","content":"\n\n\n2 May 2025\n \n \nHSBC HOLDINGS PLC - AGM STATEMENTS\n \n \nAt the Annual General Meeting of HSBC Holdings plc, held at The InterContinental London O2, London, UK today, the following statements were issued by Group Chairman, Mark Tucker and Group Chief Executive, Georges Elhedery.\n \n \nGroup Chairman's Statement:\n \nThis year we celebrate a very important milestone anniversary for the HSBC Group.\n \n160 years ago, on 3 March 1865, HSBC opened for business at 1 Queen's Road, Central, in Hong Kong.\n \nWe opened a branch in Shanghai one month later and an office in London three months after that.\n \nHSBC's founders started out with a clear and simple objective, an objective that is as relevant and significant today, as it was then, to establish a bank that would facilitate local and international trade connecting East and West and the many, many places in-between.\n \nWe continue to build on this great legacy.\n \nIn 2024, the Group achieved record results.\n \nI will expand on this by covering two points:\n \nFirstly, the strong financial performance of the Group, andsecondly, how this enabled us to reward you, our loyal shareholders, with higher returns.\n \nI will start with our 2024 financial performance.\n \nWe delivered record profit before tax of US$32.3bn - an increase of US$2bn compared with 2023.\n \nOur reported return on tangible equity was 14.6%, in line with our 'mid-teens' target.\n \nWe also achieved broad-based profit generation through geographic and business diversification.\n \nThese results demonstrate that our international strategy is working very well.\n \nOur first quarter results which were announced on Tuesday this week provided further evidence that our strategy is delivering.\n \nGeorges will speak about the first quarter results in a moment.\n \nLet me now turn to how our performance both in 2024 and in the first quarter of 2025 has enabled us to reward you with higher returns.\n \nIn total we returned US$26.9bn to shareholders in respect of 2024.\n \nThe total dividend announced for 2024 was US$0.87 per share, which amounts to US$15.9bn.\n \nThis includes the special dividend of US$0.21 per share, totalling US$3.9bn. This was paid in June following the com...