HSBC Holdings, plc. (HSBC) Q4 2025 Earnings Call

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WEBVTT 00:00:00.757 -- 00:00:06.725 Ladies and gentlemen, welcome to HSBC Holdings PLC's 2025 00:00:06.725 -- 00:00:10.851 Annual Results Webinar for Investors and Analysts. 00:00:10.851 -- 00:00:14.857 For your information, today's webinar is being recorded. 00:00:14.857 -- 00:00:18.101 At this time, I will hand the call over to George L. 00:00:18.101 -- 00:00:21.123 Hedery, Group CEO. 00:00:22.968 -- 00:00:24.791 Welcome everyone. 00:00:24.791 -- 00:00:31.148 Thank you for joining us. As we celebrate the year of the horse Kung Hei Fat Choy, 00:00:31.148 -- 00:00:36.354 Our 2025 full-year performance was strong. 00:00:36.354 -- 00:00:39.157 It was a year in which we performed, 00:00:39.157 -- 00:00:43.260 transformed, and invested for growth. 00:00:43.382 -- 00:00:46.786 I will discuss our strong strategic progress today. 00:00:46.786 -- 00:00:51.569 First, the strong momentum in our 2025 performance. 00:00:51.612 -- 00:00:56.738 Second, the execution of our three strategic priorities where 00:00:56.738 -- 00:01:00.578 we are progressing at pace and with discipline. 00:01:00.578 -- 00:01:05.865 And third, the new growth and return targets we are setting out today for 00:01:05.865 -- 00:01:08.385 2026, 2027 and 2028. 00:01:11.391 -- 00:01:14.633 So first, the full year earnings. 00:01:14.676 -- 00:01:19.722 My comments will exclude notable items and the comparisons will be year on year on a 00:01:19.722 -- 00:01:25.089 constant currency basis. In 2025, there were $6.7 billion of 00:01:25.089 -- 00:01:30.582 notable items. You are already aware of these from prior quarters. 00:01:30.582 -- 00:01:34.764 They are set out on Appendix Slide 36. 00:01:35.868 -- 00:01:39.372 First, we delivered strong earnings. 00:01:39.372 -- 00:01:43.176 Group revenues grew 5%. Profit 00:...