Hsbc Holdings Plc · LSE:HSBA

Hsbc — Q3 2025 Earnings Presentation

33 slides from Hsbc's earnings presentation, Oct 28, 2025

  1. Slide 1: HSBC Holdings plc 3Q25 results

    HSBC Holdings plc 3Q25 results Presentation to investors and analysts

  2. Slide 2: A simple, more agile and growing HSBC

    3Q25 results Appendix A simple, more agile and growing HSBC  +$0.5bn revenue growth YoY*  +29% YoY growth in Wealth fee and other income Growth  +$86bn deposit growth YoY†  Proposed privatisation of Hang Seng – capturing growth opportunities in Hong Kong  2025 Banking NII of $43bn or better Upg

  3. Slide 3: Strong performance in 3Q25

    3Q25 results Appendix Strong performance in 3Q25 Performance highlights Income statement, $bn 3Q24 3Q25 Δ, $ Δ, % Revenue excl. notable items 17.4 17.9 0.5 3% PBT excl. notable items 8.8 9.1 0.3 3% Revenue 17.2 17.8 0.6 4% $17.9bn $9.1bn ECL (1.0) (1.0) (0.0) (1)% Costs§ (8.2) (10.1) (1.9) (23)% Rev

  4. Slide 4: Four high-returning businesses

    3Q25 results Appendix Four high-returning businesses Revenue*, $bn 3Q24 (0.0)† 3.8 3.2 6.8 3.6 17.4 +3% 3Q25 (0.1)† 4.0 3.3 6.7 3.9 17.9 Hong Kong UK CIB IWPB RoTE excl. notable items‡, % 34.5% 23.3% 16.8% 19.7% RoTE§, % 34.5% 23.1% 15.5% 17.8% * Excluding notable items. See slide 22 for reconciliat

  5. Slide 5: Banking NII: upgrading FY25 guidance to $43bn or better

    3Q25 results Appendix Banking NII: upgrading FY25 guidance to $43bn or better Banking NII, $bn 10.6 11.1 11.0 11.0 0.0 0.1 10.8 0.2  Upgrading FY25 Banking NII guidance to $43bn or better (YTD: $32.4bn):  HIBOR 10.7 11.0 11.0 10.8 11.0  Deposit growth  Forward curves  Yield curve steepening  H

  6. Slide 6: The world's wholesale transaction bank

    3Q25 results Appendix The world’s wholesale transaction bank Strong client engagement overall; lower volatility in FX Fee and other income, $bn (4)%  +15% Securities Services, due to higher asset 2.9 vs. 3Q24 balances as a result of improved valuations and new 2.8 2.7 customer mandates, particularl

  7. Slide 7: Wealth: broad-based growth showing strategic focus

    3Q25 results Appendix Wealth: broad-based growth showing strategic focus Fee and other income, $bn $29bn ($15bn in Asia) +29% Net new invested assets 2.7 vs. 3Q24 3Q24: $26bn ($11bn in Asia) Asset 2.3 2.3 +6% 2.1 Management +25% Fee & other income growth 1.8 Insurance +46% Trailing 12 months on a re

  8. Slide 8: Hong Kong: Retail Banking and Wealth customer analysis

    3Q25 results Appendix Hong Kong: Retail Banking and Wealth customer analysis 21% increase in customers since Jan-23; two-thirds New customers acquired since Jan-23 have driven: are non-resident HSBC One* customers Customer numbers +21% ~50% of growth in deposits † of which ~70% from non-residents ~2

  9. Slide 9: Credit: reiterating FY25 guidance of ~(40)bps

    3Q25 results Appendix Credit: reiterating FY25 guidance of ~(40)bps* ECL charge, $bn (57)bps (44)bps  $(1.0)bn 3Q25 ECL charge includes: (40)bps (38)bps (40)bps  $(0.2)bn Hong Kong CRE (1.4)  $(0.1)bn charge against a single Middle Eastern exposure (1.1)  $(0.2)bn charge in Mexico (1.0) (1.0) (0

  10. Slide 10: Costs: on track for ~3% FY25 target basis cost growth

    3Q25 results Appendix Costs: on track for ~3% FY25 target basis cost growth Target basis costs, $bn +3% (0.3) 24.6  3Q25 reported costs included $1.4bn of legal provisions* 1.0  On track for ~3% target basis cost growth in FY25  YTD, we have taken actions to realise ~$1.0bn annualised 23.9 simpli

  11. Slide 11: Exits: 11 announced YTD to create incremental investment capacity for growth

    3Q25 results Appendix Exits: 11 announced YTD to create incremental investment capacity for growth Commenced a strategic review of Egypt retail banking business Exits announced in 2025 Expected to move to HFS in 4Q25 Malta Sri Lanka retail banking UK life insurance UK life insurance Germany custody

  12. Slide 12: Customer deposits & loans: strong and growing deposit franchise

    3Q25 results Appendix Customer deposits & loans: strong and growing deposit franchise, +$86bn YoY* Deposits, $bn Loans, $bn +4% +4%, +1%, +5% incl. held-for-sale balances* +1% incl. held-for-sale balances† 1,737 9 0 8 (8) 983 31 971 3 1,664 8 14 24 (6) 3Q24 HK UK CIB IWPB Corporate 3Q25 3Q24 HK UK C

  13. Slide 13: Capital: strong organic capital generation during the quarter

    3Q25 results Appendix Capital: strong organic capital generation during the quarter CET1 ratio, %1 +0.7  Equivalent of $0.57 DPS accrued in 9M25 (of which $0.30 announced to date)* (0.4) 14.6 +0.1 +0.0 Upcoming impacts† +0.0 14.5  4Q25: $(1.5)bn FVOCI loss will recycle (0.4) (0.1) to the P&L‡ asso

  14. Slide 14: Targets and guidance

    3Q25 results Appendix Targets and guidance Mid-teens or better RoTE in 2025, excluding notable items FY25 Upgraded guidance Banking NII $43bn or better (market dependent) Target Mid-teens RoTE in 2026 and 2027, excluding notable items ECL charge ~(40)bps1 FY25 Costs Growth of ~3%, on a target basis2

  15. Slide 15: Appendix

    Appendix

  16. Slide 16: Quarterly financial performance summary

    3Q25 results Appendix Quarterly financial performance summary $bn 3Q24 4Q24 1Q25 2Q25 3Q25 vs. 3Q24 Income statement metrics: <blank> <blank> <blank> <blank> <blank> <blank> Revenue 17.2 11.9 18.3 16.6 17.8 0.6 4% ECL (1.0) (1.4) (0.9) (1.1) (1.0) (0.0) (1)% Costs (8.2) (8.8) (8.4) (9.0) (10.1) (1.9

  17. Slide 17: Notable items

    3Q25 results Appendix Notable items $bn 3Q24 3Q25 Constant currency PBT 8.6 7.3 Less: notable items (0.3) (1.8) — Disposals, wind-downs, acquisitions and related costs 0.0 (0.3) — Legal provisions* — (1.4) Of which: Madoff securities fraud — (1.1) Of which: historical trading matters in Europe — (0.

  18. Slide 18: Upcoming strategic transactions notable items (where disclosed)

    3Q25 results Appendix Upcoming strategic transactions notable items (where disclosed) 4Q25 FY26 French home and other loans* $(1.5)bn fee and other income Potential sale of Malta $(0.3)bn fee and other income French life insurance* $(0.1)bn fee and other income Bahrain retail banking $0.1bn fee and

  19. Slide 19: Banking NII — key drivers

    3Q25 results Appendix Banking NII — key drivers Balance sheet Interest rates Average customer loans, $bn Average customer deposits, $bn1 Key rates — quarterly averages, bps 959 974 984 1,621 1,700 1,717 Source: Bloomberg, as at 26 October 20252 433 435 430 410 410 400 388 395 358 352 297 3Q24 2Q25 3

  20. Slide 20: Hong Kong commercial real estate

    3Q25 results Appendix Hong Kong commercial real estate Excluding exposure to mainland China borrowers Loans and advances to customers by credit quality, $bn FY24 1H25 9M25  Negative migration in the first nine months of 2025 as a result of ongoing Strong 4.5 4.0 3.2 market challenges. This was pred

  21. Slide 21: Wealth metrics (1/2)

    3Q25 results Appendix Wealth metrics (1/2) Invested assets, $bn Invested assets evolution, $bn +13% +$96bn 1,520 1,520 1,424 (2) 1,348 Rest of 69 741 712 Group 686 29 15 1,424 14 712 779 Asia 662 2Q25 NNIA Market FX and 3Q25 impact other 3Q24 2Q25 3Q25 Asia Rest of Group 20

  22. Slide 22: Wealth metrics (2/2)

    3Q25 results Appendix Wealth metrics (2/2) Insurance manufacturing CSM balance, $bn Insurance manufacturing CSM walk, $bn +11% (0.3) 15.7 14.6 1.1 (0.1) 13.5 (1.1) 13.2 14.6 Of which 0.1 France and UK* 1.0 2.9 12.1 13.3 12.2 3Q24 2Q25 3Q25 4Q24 New Economic Non- FX & CSM CSM 3Q25 business factors ec

  23. Slide 23: Revenue — supplementary information

    3Q25 results Appendix Revenue — supplementary information 3Q25 reported revenue to revenue excluding notable items Corporate $m HK UK CIB IWPB Total Centre Reported Revenue 3,964 3,341 6,729 3,823 (69) 17,788 Less: notable items — — (6) (110) 4 (112) Constant currency Revenue, excl. notable items 3,

  24. Slide 24: Costs — supplementary information

    3Q25 results Appendix Costs — supplementary information Target basis costs reconciliation $m FY24* 9M24 9M25 3Q24 3Q25 Costs (33,194) (24,403) (27,098) (8,211) (10,076) Less: Notable items 217 116 2,539 37 1,696 Less: Impact of retranslating prior period results in (53) (39) — (15) — hyperinflationa

  25. Slide 25: EPS excluding material notable items and related impacts

    3Q25 results Appendix EPS excluding material notable items and related impacts Reported FX, $m 3Q24 4Q24 1Q25 2Q25 3Q25 Profit attributable to ordinary shareholders (PAOS) 6,134 197 6,932 4,578 4,873 Dilution and impairment losses of interest in associate (BoCom) — — — 1,988 (32) Impact of legal pro

  26. Slide 26: Argentina (sale completed 6 December 2024)

    3Q25 results Appendix Argentina (sale completed 6 December 2024) Reported FX, $m 1Q24 2Q24 3Q24 4Q24 FY24 NII 488 434 264 142 1,328 Non-NII (290) (125) (52) (18) (486) Revenue 197 309 211 125 842 ECL (61) 26 (5) (9) (48) Costs (160) (163) (169) (112) (604) PBT (23) 173 37 4 190 Constant currency, $m

  27. Slide 27: Acquisition criteria

    3Q25 results Appendix Acquisition criteria 1 Fully aligned to strategy 2 Add scale to our franchise or capabilities Confident that integration will not create a 3 distraction from driving organic growth 4 More value-generative than a share buyback Acquisition criteria were first announced as part of

  28. Slide 28: 3Q25 vs. 2Q25 equity drivers

    3Q25 results Appendix 3Q25 vs. 2Q25 equity drivers Basic number of ordinary Shareholders’ Tangible equity, TNAV per share, shares outstanding after Reported FX equity, $bn $bn $ deducting own shares held, millions At 30 June 2025 192.6 159.6 9.17 17,397 Profit attributable to: 5.3 5.6 0.32 — Ordinar

  29. Slide 29: Total shareholders' equity to CET1 capital

    3Q25 results Appendix Total shareholders’ equity to CET1 capital 3Q25 total equity to CET1 capital (reported FX), $m Total equity to CET1 capital walk (reported FX), $m 1Q25 2Q25 3Q25 Total equity 198,688 Total equity (per balance sheet) 198,117 199,869 198,688 Non-controlling interests (7,307) (7,3

  30. Slide 30: Glossary

    3Q25 results Appendix Glossary Banking net interest income is an alternative performance measure, and is defined as GPS Global Payments Solutions Group net interest income after deducting: (1) the internal cost to fund trading and fair Group HSBC Holdings plc and its subsidiary undertakings value ne

  31. Slide 31: Footnotes

    3Q25 results Appendix Footnotes 3Q25 results Slide 12: Capital 1. Ratio movements include the impact of threshold deductions 2. Regulatory profits exclude the impact of strategic initiatives Slide 13: Targets and guidance 1. As a percentage of average gross loans and advances, including held-for-sal

  32. Slide 32: Disclaimer

    3Q25 results Appendix Disclaimer Important notice The information, statements and opinions set out in this presentation and accompanying discussion (this “Presentation”) are for informational and reference purposes only and do not constitute a public offer for the purposes of any applicable law or a

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HSBC Holdings — Q3 2025 Earnings Presentation on 6ix