HSBC Holdings, plc. (HSBC) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome, ladies and gentlemen, to the Analyst and Investor webinar on the 2025 interim results for HSBC Holdings PLC. For your information, this webinar is being recorded. I will now hand over to George Elhaderi, Group CEO. Welcome all to today's call. I'm joined by Pam. Before Pam takes you through the second quota numbers, I will cover three items. Our first half performance, the external environment, and the progress we're making against the targets we set out. Turning to our performance, the momentum we saw in the first quarter continued into the second quarter. Our half-year performance was strong. Excluding notable items, revenue in the first half grew 6% to $35.4 billion. Profit before tax was 5% higher than at $18.9 billion. On the same basis, annualized return on tangible equity was 18.2%, up 1.2% year-on-year. Our four businesses sustained momentum in their earnings. In our Hong Kong home market business, we attracted 100,000 new-to-bank customers every month this year on average. reflecting strong customer growth and solid deposit inflows. In our UK home market business, our loan book grew by $6 billion over the quarter on a constant currency basis. We were particularly encouraged by signs of recovery in lending growth and commercial banking, with loans growing by $3.5 billion on the same basis. We grew fees and other income in both wealth and wholesale transaction banking. For the second quarter, we announced a $0.10 dividend per share alongside a share buyback of up to $3 billion. This brings total shareholder distributions in respect of the half-year to $9.5 billion. Turning to the external environment, we entered this period of uncertainty from a position of strength. In this complex environment, customers are looking for a trusted financial partner. O...