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1、HSBC HOLDINGS PLC2024 Interim resultsNoel Quinn,Group Chief Executive,said:“After delivering record profits in 2023,we had another strong profit performance in the first half of 2024,which is further evidence that our strategy is working.Our investment in Wealth is delivering higher,more diversified

2、 revenue and we continue to grow our core international and scale businesses,all of which helped us to provide$13.7bn of distributions in respect of the first half.We are confident that we have the right strategy and model to grow revenue,even in a lower interest rate environment,and are therefore p

3、roviding new guidance of a mid-teens return on average tangible equity in 2025.I have always been immensely proud of the heritage of this bank and the strategic role it plays in the world.My aim when I took this job was to deliver financial performance to match our standing.Working together,I believ

4、e we have done that and created a strong platform for growth.”Financial performance in 1H24Profit before tax of$21.6bn was stable compared with 1H23,including a$0.2bn net favourable revenue impact of notable items relating togains and losses recognised on certain strategic transactions.Profit after

5、tax of$17.7bn was$0.4bn or 2%lower compared with 1H23.In 1H24,we completed the disposal of our banking business in Canada,recognising a gain of$4.8bn.We also recognised an impairment of$1.2bn following the classification of our business in Argentina as held for sale.Results in 1H23 included the impa

6、ct of a$2.1bn reversal of animpairment relating to the sale of our retail banking operations in France and a$1.5bn gain recognised on the acquisition of Silicon Valley BankUK Limited(SVB UK).Constant currency profit before tax excluding notable items was stable at$18.1bn compared with 1H23,as revenu

7、e growth and lowerexpected credit losses and other impairment charges(ECL)were offset by a rise in operating expenses.Revenue rose by$0.4bn or 1%to$37.3bn compared with 1H23,including the gains and losses on certain strategic transactions describedabove.Net interest income(NII)fell by$1.4bn,as growt

8、h in HSBC UK andanumber of other markets was more than offset by reductions dueto business disposals,deposit migration,and redeployment into the trading book in HSBC Bank plc and our main entity in Hong Kong.Theincrease in funding costs associated with funding the trading book resulted in an increas

9、e in banking net interest income(banking NII)of$0.3bn or 1%.Revenue growth also reflected the impact of higher customer activity in our Wealth products in Wealth and Personal Banking(WPB),and inEquities and Securities Financing in Global Banking and Markets(GBM).Constant currency revenue excluding n

10、otable items rose by 2%to$33.7bn,primarily due to growth in Wealth in WPB,in Equities and Securities Financing in GBM,as well as an increase in Global PaymentSolutions(GPS).Net interest margin(NIM)of 1.62%decreased by 8 basis points(bps)compared with 1H23,reflecting a rise in the funding cost ofaver

11、age interest-bearing liabilities.ECL charges were$1.1bn,a reduction of$0.3bn compared with 1H23.The reduction reflected a release of stage 3 allowances in GBM inHSBC Bank plc,lower ECL in Commercial Banking(CMB)in HSBC UK,and lower charges in the commercial real estate sector in mainlandChina.In WPB

12、,ECL charges were broadly stable as a release of allowances in the UK was offset by higher charges in Mexico,reflectingunemployment trends and growth in our unsecured portfolio.Annualised ECL were 22bps of average gross loans,including a 4bps reductiondue to the inclusion of loans and advances class

13、ified as held for sale.Operating expenses of$16.3bn were$0.8bn or 5%higher than in 1H23,mainly due to higher technology spend and investment,inflationarypressures and an increase in the performance-related pay accrual.Target basis operating expenses rose by 7%compared with 1H23.This ismeasured on a

14、constant currency basis,excluding notable items,the impact of retranslating the prior year results of hyperinflationary economiesat constant currency,and the direct costs from the sales of our France retail banking operations and our banking business in Canada.Customer lending balances of$938bn were

15、 stable on a reported basis,and increased by$12bn on a constant currency basis,comparedwith 31December 2023.Growth included higher balances in HSBC Bank plc in both CMB and GBM,and higher term lending in CMB in ourentities in mainland China and India.In addition,mortgage balances increased in HSBC U

16、K inWPB.Customer accounts of$1.6tn fell by$18bn on a reported basis,and increased by$3bn on a constant currency basis compared with31December 2023,notably in GBM reflecting growth in time deposit balances in Asia.The increase in GBM included a short-term deposit froma single corporate customer.Commo

17、n equity tier 1(CET1)capital ratio of 15.0%rose by 0.2 percentage points compared with 4Q23,driven by a reduction in risk-weighted assets(RWAs),partly offset by a reduction in our CET1 capital.The Board has approved a second interim dividend of$0.10 per share.We also intend to initiate a share buy-b

18、ack of up to$3bn,which weexpect to complete within three months.Financial performance in 2Q24Reported profit before tax increased by$0.1bn to$8.9bn compared with 2Q23,due to a lower ECL charge,which more than offset higheroperating expenses and lower revenue.On a constant currency basis,profit befor

19、e tax increased by$0.4bn or 4%.Revenue fell by$0.2bn to$16.5bn compared with 2Q23,notably as 2Q23 included the operating results of France and Canada for whichsales completed in 1Q24.In addition,2Q24 included a loss related to the recycling of reserves following the completion of the sale of ourbusi

20、ness in Russia.This was partly offset by growth in Securities Financing and Equities in GBM and from Wealth in WPB.ECL of$0.3bn decreased by$0.6bn,reflecting lower charges in 2Q24 in the commercial real estate sector in mainland China,compared with2Q23,as well as a reduction in charges in HSBC UK,an

21、d the release of stage 3 allowances in GBM in HSBC Bank plc.Operating expenses of$8.1bn rose by$0.3bn or 3%,due to higher technology costs,including investment,the 2Q23 reversal of historicalasset impairments,which did not recur,and inflationary impacts.This was partly offset by reductions following

22、 the completion of disposals inCanada and France.31 July 2024 Customer lending increased by$5bn compared with 1Q24 on a reported basis and by$8bn on a constant currency basis.The growth was mainly from CMB,notably in our entities in mainland China and India,and in WPB from mortgage balance growth in

23、 HSBC UK and our entity in the US.Customer accounts increased by$24bn compared with 1Q24 on a reported basis and by$27bn on a constant currency basis.The increase was across all businesses,primarily in Asia.The increase included a short-term deposit from a single corporate customer.OutlookWe will no

24、w target a return on average tangible equity(RoTE),excluding the impact of notable items,in the mid-teens for both 2024 and 2025.Based upon our current forecasts,we expect banking NII of around$43bn in 2024.This guidance remains dependent on the path of interest rates globally.While loan growth was

25、1%in 1H24,revenue has continued to benefit from elevated interest rates.Over the medium to long term,we continue to expect mid-single digit year-on-year percentage growth in customer lending.We are reiterating our cost growth guidance of approximately 5%for 2024 compared with 2023,on a target basis,

26、and now expect ECL charges as a percentage of average gross loans in 2024 to be within our medium-term planning range of 30bps to 40bps(including customer lending balances transferred to held for sale).Our guidance reflects our current outlook for the global macroeconomic environment,including custo

27、mer and financial markets activity.This includes our modelling of a number of market dependent factors,such as market-implied interest rates(as of mid-July 2024),as well as customer behaviour and activity levels.We intend to manage our CET1 capital ratio within our medium-term target range of 14%to

28、14.5%,with a dividend payout ratio target basis of 50%for 2024,which excludes material notable items and related impacts.Note:we do not reconcile our forward guidance on RoTE excluding notable items,target basis operating expenses,dividend payout ratio target basis or banking NII to their equivalent

29、 reported measures.2HSBC Holdings plc 2024 Interim ResultsKey financial metricsHalf-year to30 Jun 202430 Jun 2023Reported resultsProfit before tax($m)21,556 21,657 Profit after tax($m)17,665 18,071 Cost efficiency ratio(%)43.7 41.9 Net interest margin(%)1.62 1.70 Basic earnings per share($)0.89 0.86

30、 Diluted earnings per share($)0.88 0.86 Dividend per ordinary share(in respect of the period)($)10.20 0.20 Alternative performance measuresConstant currency profit before tax($m)21,556 21,472 Constant currency cost efficiency ratio(%)43.7 41.8 Constant currency revenue excluding notable items($m)33,

31、721 33,075 Constant currency profit before tax excluding notable items($m)18,067 18,117 Constant currency revenue excluding notable items and strategic transactions($m)33,543 32,462 Constant currency profit before tax excluding notable items and strategic transactions($m)17,975 17,969 Expected credi

32、t losses and other credit impairment charges(annualised)as%of average gross loans and advances to customers(%)0.23 0.28 Expected credit losses and other credit impairment charges(annualised)as%of average gross loans and advances to customers,including held for sale(%)0.22 0.26 Basic earnings per sha

33、re excluding material notable items and related impacts($)0.68 0.70 Return on average ordinary shareholders equity(annualised)(%)19.8 20.8 Return on average tangible equity(annualised)(%)21.4 22.4 Return on average tangible equity excluding notable items(annualised)(%)17.0 18.5 Target basis operatin

34、g expenses($m)16,052 14,983 At30 Jun 202431 Dec 2023Balance sheetTotal assets($m)2,975,0033,038,677Net loans and advances to customers($m)938,257938,535Customer accounts($m)1,593,8341,611,647Average interest-earning assets,year to date($m)2,097,8662,161,746Loans and advances to customers as%of custo

35、mer accounts(%)58.9 58.2 Total shareholders equity($m)183,293 185,329Tangible ordinary shareholders equity($m)153,109 155,710Net asset value per ordinary share at period end($)8.978.82Tangible net asset value per ordinary share at period end($)8.358.19Capital,leverage and liquidityCommon equity tier

36、 1 capital ratio(%)2 15.0 14.8 Risk-weighted assets($m)2,3 835,118 854,114 Total capital ratio(%)2,3 20.6 20.0 Leverage ratio(%)2,3 5.7 5.6 High-quality liquid assets(liquidity value,average)($m)3,4 646,052 647,505 Liquidity coverage ratio(average)(%)3,4,5 137 136 Share countPeriod end basic number

37、of$0.50 ordinary shares outstanding(millions)18,330 19,006 Period end basic number of$0.50 ordinary shares outstanding and dilutive potential ordinary shares(millions)18,456 19,135 Average basic number of$0.50 ordinary shares outstanding(millions)18,666 19,478 For reconciliations of our reported res

38、ults to a constant currency basis,including lists of notable items,see page 40 of the Interim Report 2024.For detail on other alternative performance measures,including definitions and calculations,see Reconciliation of alternative performance measures on pages 56 to 61 of the Interim Report 2024.1

39、Dividend per ordinary share for half year to 30 June 2024 excludes the special dividend of$0.21 per ordinary share arising from the proceeds of the sale of our banking business in Canada to Royal Bank of Canada.2 Unless otherwise stated,regulatory capital ratios and requirements are based on the tra

40、nsitional arrangements of the Capital Requirements Regulation in force at the time.References to EU regulations and directives(including technical standards)should,as applicable,be read as references to the UKs version of such regulation or directive,as onshored into UK law under the European Union(

41、Withdrawal)Act 2018,and as may be subsequently amended under UK law.3 Regulatory numbers and ratios are as presented at the date of reporting.Small changes may exist between these numbers and ratios and those subsequently submitted in regulatory filings.Where differences are significant,we may resta

42、te in subsequent periods.4 The liquidity coverage ratio is based on the average value of the preceding 12 months.5 We have enhanced our calculation processes during 1H24.As Group LCR is reported as a 12-month average,the benefit of these changes will be recognised incrementally over the coming year

43、starting from 30 June 2024.HSBC Holdings plc 2024 Interim Results3HighlightsHalf-year to30 Jun 202430 Jun 2023$m$mReported Revenue1,2,3,4 37,292 36,876 Change in expected credit losses and other credit impairment charges(1,066)(1,345)Operating expenses(16,296)(15,457)Share of profit in associates an

44、d joint ventures 1,626 1,583 Profit before tax 21,556 21,657 Tax(charge)/credit(3,891)(3,586)Profit after tax 17,665 18,071 Constant currency5Revenue1,2,3,4 37,292 36,502 Change in expected credit losses and other credit impairment charges(1,066)(1,317)Operating expenses(16,296)(15,244)Share of prof

45、it in associates and joint ventures 1,626 1,531 Profit before tax 21,556 21,472 Tax(charge)/credit(3,891)(3,514)Profit after tax 17,665 17,958 Notable itemsRevenueDisposals,acquisitions and related costs2,3,4 3,571 3,321 Fair value movements on financial instruments6 15 Operating expensesDisposals,a

46、cquisitions and related costs(101)(118)Restructuring and other related costs7 19 47 TaxTax(charge)/credit on notable items 14 (500)Uncertain tax positions 427 1 Net operating income before change in expected credit losses and other credit impairment charges,also referred to as revenue.2 Includes the

47、 reversal of a$2.1bn impairment loss relating to the sale of our retail banking operations in France in 1Q23.3 Includes a$4.8bn gain on disposal of our banking business in Canada,inclusive of a$0.3bn gain on the foreign exchange hedging of the sale proceeds,the recycling of$0.6bn in foreign currency

48、 translation reserve losses and$0.4bn of other reserves recycling losses.This is partly offset by a$1.2bn impairment recognised in relation to the planned sale of our business in Argentina.4 Includes the gain of$1.5bn recognised in respect of the acquisition of SVB UK in 1Q23.5 Constant currency per

49、formance is computed by adjusting reported results of comparative periods for the effects of foreign currency translation differences,which distort period-on-period comparisons.6 Fair value movements on non-qualifying hedges in HSBC Holdings.7 Relates to reversals of restructuring provisions recogni

50、sed during 2022.4HSBC Holdings plc 2024 Interim ResultsReview by Noel Quinn,Group Chief ExecutiveAfter achieving a record profit performance in 2023,we had a strong first half financial performance that reflected our strategy execution and revenue diversification over the past five years.We remain c

51、onfident that we can deliver attractive returns,even in a lower interest rate environment,as a result of macroeconomic trends that play to our strengths,market-leading businesses connecting high-growth markets that we are continuing to invest in,and ongoing cost discipline.As a result,we are providi

52、ng new guidance of a mid-teens return on average tangible equity,excluding the impact of notable items,in 2025.Over the last 18 months,HSBCs business model has delivered our highest return on average tangible equity for more than a decade.We continued to perform well in our home markets of Hong Kong

53、 and the UK the two pillars upon which our bank is built.The international wholesale banking business that we have built on top of these pillars is mature and differentiated,and has substantial scale.It remains our biggest competitive advantage and is supported by leading transaction banking product

54、s and services in global trade,payments and foreign exchange.Finally,we are growing and investing in our international retail and wealth business to sit alongside this,which is helping to diversify revenue.Each of these strengths contributed to a good revenue performance in the first half of 2024,su

55、pported by higher interest rates.Our strategy is working and providing attractive returns for our shareholders.We have announced a second interim dividend of$0.10 per share,further to the first interim dividend of$0.10 per share and the special dividend of$0.21 paid in June.We are also today announc

56、ing a share buy-back of up to$3bn,further to the now completed$3bn share buy-back announced at our first quarter results.This means that we are announcing a further$4.8bn in distributions with these results,taking the amount of capital distributed in respect of the last 18 months to$34.4bn.As we loo

57、k ahead,the path of interest rates and the outcomes of elections are amongst the factors that will shape the global operating environment.The progress that has been made reducing inflation has enabled central banks to start cutting interest rates.Although we expect a cautious approach,we have reduce

58、d our sensitivity to interest rates.2024 will also be the biggest election year on record,as more than 4 billion people have an opportunity to go to the polls.The US election result will be watched particularly closely considering the potential for policy change based on the result and the impact th

59、is could have beyond its borders.We will continue to monitor these situations.Continued strong financial performanceThe first half saw another strong profit performance,driven by growth in our scale businesses and in areas where we have been investing.There was strong revenue growth in Wealth,transa

60、ction banking revenue remained stable and wholesale lending increased again in the second quarter,on a constant currency basis,after growing in the first quarter.Profit before tax for the first half was$21.6bn,which was stable compared with the first half of 2023.This included a$4.8bn gain on the sa

61、le of our banking operations in Canada,partly offset by a$1.2bn impairment related to the planned sale of our banking operations in Argentina,which was announced in the first half.The prior year also included a$2.1bn reversal of an impairment relating to the sale of our retail banking operations in

62、France and a$1.5bn gain recognised on the acquisition of SVB UK.Revenue increased by$0.4bn or 1%to$37.3bn,including the aforementioned acquisition and disposal impacts,driven mainly by higher banking net interest income.We achieved an annualised return on average tangible equity of 21.4%,or 17%exclu

63、ding notable items.Our three global businesses continued to perform well.In Wealth and Personal Banking,profit before tax of$6.5bn was$2.2bn lower than in 2023 on a constant currency basis,primarily due to the non-recurrence of a$2.1bn reversal last year of an impairment relating to the sale of our

64、retail banking operations in France and$0.1bn of profit before tax in the prior period from our Canadian banking operations.Wealth revenue of$4.3bn was 12%higher than the first half of last year,driven by increases in investment distribution and Global Private Banking,as well as growth in asset mana

65、gement and life insurance.In Commercial Banking,profit before tax of$6.5bn was down by$1.5bn on a constant currency basis,primarily due to the non-recurrence of a$1.6bn gain last year on the acquisition of SVB UK.Overall performance remained good,with revenue benefiting from the higher rates environ

66、ment,growth in transaction banking and higher collaboration revenue.Global Banking and Markets delivered a good performance.Revenue grew by 5%on a constant currency basis,with good growth in areas like Equities and Securities Financing,while still benefiting from the interest rate environment.First

67、half operating expenses of$16.3bn were around 5%higher than in 2023,mainly due to higher technology costs including investments,inflationary pressures and different phasing of the accrual of performance-related pay compared with 2023.On a target basis,operating expenses were 7%higher than the same p

68、eriod last year.As we expect the overall amount of performance-related pay for 2024 not to be materially different to 2023,we expect lower performance-related pay accrual in the second half.We are therefore reconfirming our cost growth guidance of approximately 5%for 2024 compared with 2023,on a tar

69、get basis.ECL and other credit impairment charges for the first half were$1.1bn,which was a$0.3bn decrease on the first half of 2023.We now expect ECLs as a percentage of average gross loans in 2024 to be back within our medium-term planning range of 30bps to 40bps.Our CET1 ratio at the end of the f

70、irst half was 15.0%.Our first half banking net interest income performance and the improved net interest income outlook mean that we are upgrading our 2024 banking net interest income guidance from at least$41bn to around$43bn.Further opportunities to grow revenueWe also expect to deliver a return o

71、n average tangible equity in the mid-teens for 2024 and 2025,excluding the impact of notable items.Clearly there are downside risks to net interest income when interest rates fall,but were confident that we have the levers to achieve these targets.The first lever is leveraging our international conn

72、ectivity.We have a strong international wholesale franchise.After a softer year in 2023,international trade volumes are forecast to grow more quickly this year and next.As the worlds leading trade finance bank and the third-largest bank for global foreign exchange revenue since 2021,we expect to cap

73、italise on this.To illustrate this growth potential,we grew wholesale multi-jurisdictional client revenue by 4%in the first half of 2024,on a constant currency basis and excluding HSBC Bank Canada,from$9.4bn to$9.7bn.Increasing global mobility amongst retail customers is also driving demand for inno

74、vative cross-border banking solutions.This helped us to grow international customers within Wealth and Personal Banking by 11%,bringing the total to 7m customers.Revenue from these customers also grew by 6%in the first half.We believe that there is still significant untapped potential amongst intern

75、ational wholesale and retail customers.HSBC Holdings plc 2024 Interim Results5The second lever is maintaining our leadership in our home markets.Our leading businesses in Hong Kong and the UK two of the biggest global financial centres both grew profits before tax in the first half,helped by their s

76、trong international connectivity with the rest of the Group.In Hong Kong,our scale and connectivity are delivering good profitability and enabling us to capture new opportunities.In the first half,345,000 new-to-bank customers opened accounts as we continued to capitalise on the significant inflows

77、into Hong Kong as customers seek higher yields and quality products.In the UK,we grew international customers by 8%to 2.7m,underlining the differentiated nature of our UK business compared to other UK banks.Signs of economic recovery were also underlined by growth in customer lending of 2%compared w

78、ith the first half of 2023.We remain confident in our ability to grow further in these two critical markets.The third lever is investing to diversify revenue.Over the last five years,we have taken a number of actions to reduce our sensitivity to interest rates and create the bank of the future.Build

79、ing our wealth business,especially in Asia,to capitalise on increasing affluence has been one of the key priorities.As a result of this,wealth revenue was up 12%in the first half,while we attracted$32.4bn of net new invested assets.Payments is another fee-based business that we are investing in to c

80、apitalise on the expected increase in global payments revenue.We are the number two bank globally by payments revenue,up from top four in 2022,with a market share of 4.8%in2023 compared with 3.6%in the prior year.HSBC was also named Worlds Best Bank for Payments and Treasury by Euromoney,which was o

81、ne of 33 awards given to the bank in 2024 that also included Best Bank in Asia and Worlds Best Bank for Sustainable Finance.Through HSBC Innovation Banking,we are building a global proposition that can help us to become known as the go-to bank for innovation companies.Revenue from the new propositio

82、n increased by 4%in the second quarter and we have onboarded almost 600 new-to-bank innovation companies globally since the acquisition ofSVB UK.Thank youAs I prepare to hand on the leadership of HSBC to Georges Elhedery in September,Iwould like to place on record what an enormous privilege it has b

83、een to lead this great institution.I never imagined when I started my career 37 years ago that I would have the honour of becoming Group Chief Executive.I have always been immensely proud of the heritage of this bank and the strategic role it plays in the world.My aim when I took this job was to del

84、iver financial performance to match our standing.Working together,I believe we have done that and created a strong platform for growth.The success of our transformation programme is evident in the improved returns that we have delivered.Since I became Group Chief Executive,we have returned$36bn of d

85、ividends and$18bn of share buy-backs to our shareholders,inclusive of the distributions we have announced with these results,while also successfully navigating the global pandemic.This would not have been possible without the support and backing of the Board,my Group Executive Committee colleagues a

86、nd,of course,the whole HSBC team.I have been very fortunate to work with many talented,dedicated and committed people during my career.I would like to thank them wholeheartedly for their friendship and partnership and I wish continued success to Georges,and to all those who will write the next chapt

87、er in the story of this great bank.Noel QuinnGroup Chief Executive31 July 20246HSBC Holdings plc 2024 Interim ResultsFinancial summaryHalf-year to30 Jun 202430 Jun 2023$m$mFor the periodProfit before tax 21,556 21,657 Profit attributable to:ordinary shareholders of the parent company 16,586 16,966 D

88、ividends on ordinary shares1 11,691 6,591 At the period endTotal shareholders equity 183,293 184,170 Total regulatory capital 172,084 170,021 Customer accounts 1,593,834 1,595,769 Total assets 2,975,003 3,041,476 Risk-weighted assets 835,118 859,545 Per ordinary share$Basic earnings 0.89 0.86 Divide

89、nd per ordinary share(paid in the period)1 0.62 0.33 Net asset value28.97 8.44 1 The$0.62 dividend paid during the period consisted of a fourth interim dividend of$0.31 per ordinary share in respect of the financial year ended 31December 2023 paid in April 2024,a first interim dividend of$0.10 per o

90、rdinary share in respect of the financial year ending 31 December 2024 and a special dividend of$0.21 per ordinary share from the Canada sale proceeds.2 The definition of net asset value per ordinary share is total shareholders equity,less non-cumulative preference shares and capital securities,divi

91、ded by the number of ordinary shares in issue,excluding own shares held by the company,including those purchased and held in treasury.Distribution of results by global businessConstant currency profit before taxHalf-year to30 Jun 202430 Jun 2023$m%$m%Wealth and Personal Banking 6,458 30.0 8,626 40.2

92、 Commercial Banking 6,463 30.0 7,933 36.9 Global Banking and Markets 3,813 17.7 3,409 15.9 Corporate Centre1 4,822 22.3 1,504 7.0 Profit before tax 21,556 100.0 21,472 100.0 1 On 1 January 2024,HSBC Continental Europe completed the sale of its retail banking operations in France to CCF,a subsidiary

93、of Promontoria MMB SAS(My Money Group).With effect from this date,we have prospectively reclassified the portfolio of retained loans,profit participation interest and licence agreement of the CCF brand from WPB to Corporate Centre.Distribution of results by legal entityReported profit/(loss)before t

94、axHalf-year to30 Jun 202430 Jun 2023$m%$m%HSBC UK Bank plc 3,734 17.3 4,791 22.1 HSBC Bank plc 1,436 6.7 3,498 16.2 The Hongkong and Shanghai Banking Corporation Limited 10,893 50.5 10,917 50.4 HSBC Bank Middle East Limited 536 2.5 673 3.1 HSBC North America Holdings Inc.423 2.0 701 3.2 HSBC Bank Ca

95、nada 186 0.9 475 2.2 Grupo Financiero HSBC,S.A.de C.V.466 2.2 436 2.0 Other trading entities1 1,034 4.7 1,282 6.0 of which:other Middle East entities(including Oman,Trkiye,Egypt and Saudi Arabia)411 1.9 420 1.9 of which:Saudi Awwal Bank 317 1.5 272 1.3 Holding companies,shared service centres and in

96、tra-Group eliminations2 2,848 13.2 (1,116)(5.2)Profit before tax 21,556 100.0 21,657 100.0 1 Other trading entities includes the results of entities located in Oman(pre merger with Sohar International Bank SAOG in August 2023),Trkiye,Egypt and Saudi Arabia(including our share of the results of Saudi

97、 Awwal Bank)which do not consolidate into HSBC Bank Middle East Limited.Supplementary analysis is provided on page 56 of the Interim Report 2024 for a fuller picture of the Middle East,North Africa and Trkiye regional performance.2 Includes a$4.8bn gain on disposal of our banking business in Canada,

98、inclusive of a$0.3bn gain on the foreign exchange hedging of the sale proceeds,the recycling of$0.6bn in foreign currency translation reserve losses and$0.4bn of other reserves recycling losses.This is partly offset by a$1.2bn impairment recognised in relation to the planned sale of our business in

99、Argentina.HSBC Holdings plc 2024 Interim Results7HSBC constant currency profit before tax and balance sheet dataHalf-year to 30 Jun 2024Wealth and Personal BankingCommercialBankingGlobalBanking andMarketsCorporate CentreTotal$m$m$m$m$mNet operating income/(expense)before change in expected credit lo

100、sses and other credit impairment charges1 14,312 10,896 8,742 3,342 37,292 external 10,166 11,217 15,377 532 37,292 inter-segment 4,146 (321)(6,635)2,810 of which:net interest income/(expense)2 10,231 8,799 3,710 (5,829)16,911 Change in expected credit losses and other credit impairment charges(476)

101、(573)(11)(6)(1,066)Net operating income 13,836 10,323 8,731 3,336 36,226 Total operating expenses(7,406)(3,861)(4,918)(111)(16,296)Operating profit 6,430 6,462 3,813 3,225 19,930 Share of profit in associates and joint ventures 28 1 1,597 1,626 Constant currency profit before tax 6,458 6,463 3,813 4

102、,822 21,556%Share of HSBCs constant currency profit before tax 30.0 30.0 17.7 22.3 100.0 Constant currency cost efficiency ratio 51.7 35.4 56.3 3.3 43.7 Constant currency balance sheet data$m$m$m$m$mLoans and advances to customers(net)445,882 310,356 174,376 7,643 938,257 Interests in associates and

103、 joint ventures 567 25 111 27,762 28,465 Total external assets 864,948 597,808 1,365,439 146,808 2,975,003 Customer accounts 794,807 467,362 331,269 396 1,593,834 Constant currency risk-weighted assets3 182,508 335,692 225,145 91,773 835,118 Half-year to 30 Jun 2023Net operating income before change

104、 in expected credit losses and other credit impairment charges1 16,095 12,086 8,321 36,502 external 12,317 12,730 13,714 (2,259)36,502 inter-segment 3,778 (644)(5,393)2,259 of which:net interest income/(expense)2 10,130 8,073 3,401 (3,877)17,727 Change in expected credit losses and other credit impa

105、irment charges(484)(694)(136)(3)(1,317)Net operating income/(expense)15,611 11,392 8,185 (3)35,185 Total operating expenses(7,020)(3,458)(4,776)10 (15,244)Operating profit 8,591 7,934 3,409 7 19,941 Share of profit/(loss)in associates and joint ventures 35 (1)1,497 1,531 Constant currency profit bef

106、ore tax 8,626 7,933 3,409 1,504 21,472%Share of HSBCs constant currency profit before tax 40.2 36.9 15.9 7.0 100.0 Constant currency cost efficiency ratio 43.6 28.6 57.4 41.8 Constant currency balance sheet data$m$m$m$m$mLoans and advances to customers(net)460,395 315,271 175,055 293 951,014 Interes

107、ts in associates and joint ventures 551 22 105 28,856 29,534 Total external assets 891,675 644,672 1,325,327 150,047 3,011,721 Customer accounts 803,962 466,302 309,526 628 1,580,418 Constant currency risk-weighted assets3 181,464 345,043 224,239 91,526 842,272 1 Net operating income before change i

108、n expected credit losses and other credit impairment charges,also referred to as revenue.2 Net interest expense recognised in the Corporate Centre includes$5.5bn(1H23:$3.8bn)of interest expense in relation to the internal cost to fund trading and fair value net assets;and the funding cost of foreign

109、 exchange swaps in our Markets Treasury function.3 Constant currency risk-weighted assets are calculated using reported risk-weighted assets adjusted for the effects of currency translation differences.8HSBC Holdings plc 2024 Interim ResultsConsolidated income statementHalf-year to30 Jun 202430 Jun

110、2023$m$mNet interest income 16,911 18,264 interest income 55,372 46,955 interest expense(38,461)(28,691)Net fee income 6,200 6,085 fee income 8,158 7,947 fee expense(1,958)(1,862)Net income from financial instruments held for trading or managed on a fair value basis1 10,516 8,112 Net income from ass

111、ets and liabilities of insurance businesses,including related derivatives,measured at fair value through profit or loss 2,376 4,304 Insurance finance expense(2,486)(4,234)Insurance service result 662 524 insurance service revenue 1,310 1,104 insurance service expense(648)(580)Gain on acquisition2 1,

112、507 Gain less impairment relating to sale of business operations3 3,256 2,130 Other operating(expense)/income(143)184 Net operating income before change in expected credit losses and other credit impairment charges4 37,292 36,876 Change in expected credit losses and other credit impairment charges(1

113、,066)(1,345)Net operating income 36,226 35,531 Employee compensation and benefits(9,192)(8,954)General and administrative expenses(5,135)(4,912)Depreciation and impairment of property,plant and equipment and right-of-use assets(867)(782)Amortisation and impairment of intangible assets(1,102)(809)Tot

114、al operating expenses(16,296)(15,457)Operating profit 19,930 20,074 Share of profit in associates and joint ventures 1,626 1,583 Profit before tax 21,556 21,657 Tax expense(3,891)(3,586)Profit after tax 17,665 18,071 Attributable to:ordinary shareholders of the parent company 16,586 16,966 other equ

115、ity holders 526 542 non-controlling interests 553 563 Profit after tax 17,665 18,071$Basic earnings per ordinary share 0.89 0.86 Diluted earnings per ordinary share 0.88 0.86 1 Includes a$255m gain(1H23:$284m loss)on the foreign exchange hedging of the proceeds from the sale of our banking business

116、in Canada.2 Gain recognised in respect of the acquisition of SVB UK.3 In the first half of 2024,a gain of$4.6bn inclusive of the recycling of$0.6bn in foreign currency translation reserve losses and$0.4bn of other reserves recycling losses on the sale of our banking business in Canada,and an impairm

117、ent loss of$1.2bn relating to the planned sale of our business in Argentina was recognised.In the first quarter of 2023,the$2.1bn reversal of the held for sale classification was recognised relating to the sale of our retail banking operations in France.4 Net operating income before change in expect

118、ed credit losses and other credit impairment charges,also referred to as revenue.HSBC Holdings plc 2024 Interim Results9Consolidated statement of comprehensive income Half-year to30 Jun 202430 Jun 2023$m$mProfit for the period 17,665 18,071 Other comprehensive income/(expense)Items that will be recl

119、assified subsequently to profit or loss when specific conditions are met:Debt instruments at fair value through other comprehensive income(213)549 fair value(losses)/gains(378)804 fair value gains transferred to the income statement on disposal(24)(63)expected credit losses/(recoveries)recognised in

120、 the income statement 13 (3)disposal of subsidiary 90 income taxes 86 (189)Cash flow hedges(710)(1,062)fair value losses(612)(1,700)fair value(gains)/losses reclassified to the income statement(673)227 disposal of subsidiary 262 income taxes 313 411 Share of other comprehensive income/(expense)of as

121、sociates and joint ventures 211 101 share for the period 211 101 Net finance income/(expense)from insurance contracts 17 (101)before income taxes 23 (136)income taxes(6)35 Exchange differences(2,588)(347)foreign exchange losses reclassified to the income statement on disposal of a foreign operation

122、648 other exchange differences(3,236)(347)Items that will not be reclassified subsequently to profit or loss:Fair value gains on property revaluation 5 1 Remeasurement of defined benefit asset/(liability)146 (112)before income taxes 178 (105)income taxes(32)(7)Changes in fair value of financial liab

123、ilities designated at fair value upon initial recognition arising from changes in own credit risk(283)(653)before income taxes(372)(867)income taxes 89 214 Equity instruments designated at fair value through other comprehensive income 41 7 fair value gains 62 7 income taxes(21)Effects of hyperinflat

124、ion 892 578 Other comprehensive expense for the period,net of tax(2,482)(1,039)Total comprehensive income for the period 15,183 17,032 Attributable to:ordinary shareholders of the parent company 14,131 15,986 other equity holders 526 542 non-controlling interests 526 504 Total comprehensive income f

125、or the period 15,183 17,032 10HSBC Holdings plc 2024 Interim ResultsConsolidated balance sheetAt30 Jun 202431 Dec 2023$m$mAssetsCash and balances at central banks 277,112 285,868 Items in the course of collection from other banks 9,977 6,342 Hong Kong Government certificates of indebtedness 43,026 4

126、2,024 Trading assets 331,307 289,159 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 117,014 110,643 Derivatives 219,269 229,714 Loans and advances to banks 102,057 112,902 Loans and advances to customers 938,257 938,535 Reverse repurchase agreemen

127、ts non-trading 230,189 252,217 Financial investments 467,356 442,763 Assets held for sale 5,821 114,134 Prepayments,accrued income and other assets 184,303 165,255 Current tax assets 1,308 1,536 Interests in associates and joint ventures 28,465 27,344 Goodwill and intangible assets 12,161 12,487 Def

128、erred tax assets 7,381 7,754 Total assets 2,975,003 3,038,677 LiabilitiesHong Kong currency notes in circulation 43,026 42,024 Deposits by banks 82,435 73,163 Customer accounts 1,593,834 1,611,647 Repurchase agreements non-trading 202,770 172,100 Items in the course of transmission to other banks 10

129、,482 7,295 Trading liabilities 77,455 73,150 Financial liabilities designated at fair value 140,800 141,426 Derivatives 217,096 234,772 Debt securities in issue 98,158 93,917 Liabilities of disposal groups held for sale 5,041 108,406 Accruals,deferred income and other liabilities 157,171 136,606 Cur

130、rent tax liabilities 2,837 2,777 Insurance contract liabilities 125,252 120,851 Provisions 1,536 1,741 Deferred tax liabilities 1,186 1,238 Subordinated liabilities 25,510 24,954 Total liabilities 2,784,589 2,846,067 EquityCalled up share capital 9,310 9,631 Share premium account 14,808 14,738 Other

131、 equity instruments 18,825 17,719 Other reserves(14,930)(8,907)Retained earnings 155,280 152,148 Total shareholders equity 183,293 185,329 Non-controlling interests 7,121 7,281 Total equity 190,414 192,610 Total liabilities and equity 2,975,003 3,038,677 HSBC Holdings plc 2024 Interim Results11Conso

132、lidated statement of changes in equityOther reservesCalled up share capital and share premiumOther equityinstru-mentsFinancial assets at FVOCI reserveCash flowhedgingreserveForeign exchangereserveMerger and other reservesInsurancefinancereserve1RetainedearningsTotal share-holders equityNon-controlli

133、nginterestsTotal equity$m$m$m$m$m$m$m$m$m$m$mAt 1 Jan 2024 24,369 17,719 (3,507)(1,033)(33,753)28,601 785 152,148 185,329 7,281 192,610 Profit for the period 17,112 17,112 553 17,665 Other comprehensive income(net of tax)(164)(691)(2,551)5 (10)956 (2,455)(27)(2,482)debt instruments at fair value thr

134、ough other comprehensive income (313)(313)10 (303)equity instruments designated at fair value through other comprehensive income 35 35 6 41 cash flow hedges (970)(970)(2)(972)changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own

135、credit risk (283)(283)(283)property revaluation 5 5 5 remeasurement of defined benefit asset/liability 136 136 10 146 share of other comprehensive income of associates and joint ventures 211 211 211 effects of hyperinflation 892 892 892 foreign exchange losses reclassified to income statement on dis

136、posal of a foreign operation 648 648 648 other reserves reclassified to income statement on disposal of a foreign operation 90 262 352 352 insurance finance income/(expense)recognised in other comprehensive income 17 17 17 other exchange differences 24 17 (3,199)(27)(3,185)(51)(3,236)Total comprehen

137、sive income for the period (164)(691)(2,551)5 (10)18,068 14,657 526 15,183 Shares issued under employee remuneration and shareplans 75 (75)Capital securities issued2 1,106 1,106 1,106 Dividends to shareholders (12,217)(12,217)(468)(12,685)Cost of share-based payment arrangements 274 274 274 Transfer

138、s3 (2,945)2,945 Share buy-backs4 (5,019)(5,019)(5,019)Cancellation of shares(326)326 Other movements 4 3 (844)(837)(218)(1,055)At 30 Jun 2024 24,118 18,825 (3,667)(1,724)(36,304)25,990 775 155,280 183,293 7,121 190,414 12HSBC Holdings plc 2024 Interim ResultsConsolidated statement of changes in equi

139、ty(continued)Other reservesCalled up share capital and share premiumOther equity instru-mentsFinancial assets at FVOCI reserveCash flowhedgingreserveForeign exchange reserveMerger and other reservesInsurancefinancereserve1RetainedearningsTotal share-holdersequityNon-controllinginterestsTotal equity$

140、m$m$m$m$m$m$m$m$m$m$mAt 1 Jan 2023 24,811 19,746 (7,038)(3,808)(32,575)33,209 1,079 142,409 177,833 7,364 185,197 Profit for the period 17,508 17,508 563 18,071 Other comprehensive income(net of tax)560 (1,077)(271)1 (101)(92)(980)(59)(1,039)debt instruments at fair value through other comprehensive

141、 income 546 546 3 549 equity instruments designated at fair value through other comprehensive income 14 14 (7)7 cash flow hedges (1,077)(1,077)15 (1,062)changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk (654)(654)

142、1 (653)property revaluation 1 1 1 remeasurement of defined benefit asset/liability (117)(117)5 (112)share of other comprehensive income of associates and joint ventures 101 101 101 effects of hyperinflation 578 578 578 insurance finance income/(expense)recognised in other comprehensive income (101)(

143、101)(101)other exchange differences (271)(271)(76)(347)Total comprehensive income for the period 560 (1,077)(271)1 (101)17,416 16,528 504 17,032 Shares issued under employee remuneration and shareplans 78 (78)Capital securities issued 1,996 1,996 1,996 Dividends to shareholders (7,133)(7,133)(375)(7

144、,508)Redemption of securities (2,350)(2,350)(2,350)Cost of share-based payment arrangements 228 228 228 Share buy-backs (2,007)(2,007)(2,007)Cancellation of shares(79)79 Other movements 6 1 (932)(925)(12)(937)At 30 Jun 2023 24,810 19,392 (6,472)(4,885)(32,846)33,290 978 149,903 184,170 7,481 191,651

145、 HSBC Holdings plc 2024 Interim Results13Consolidated statement of changes in equity(continued)Other reservesCalled up share capital and share premiumOther equity instru-mentsFinancial assets at FVOCI reserveCash flowhedgingreserveForeign exchange reserveMerger and other reservesInsurancefinancerese

146、rve1RetainedearningsTotal share-holdersequityNon-controllinginterestsTotal equity$m$m$m$m$m$m$m$m$m$m$mAt 1 Jul 2023 24,810 19,392 (6,472)(4,885)(32,846)33,290 978 149,903 184,170 7,481 191,651 Profit for the period 6,025 6,025 463 6,488 Other comprehensive income(net of tax)1,842 4,107 60 (270)206

147、5,945 77 6,022 debt instruments at fair value through other comprehensive income 2,028 2,028 22 2,050 equity instruments designated at fair value through other comprehensive income (107)(107)(20)(127)cash flow hedges 3,996 3,996 19 4,015 changes in fair value of financial liabilities designated at f

148、air value upon initial recognition arising from changes in own credit risk (566)(566)(566)property revaluation remeasurement of defined benefit asset/liability (200)(200)(2)(202)share of other comprehensive income of associates and joint ventures (54)(54)(54)effects of hyperinflation 1,026 1,026 1,0

149、26 insurance finance income/(expense)recognised in other comprehensive income (263)(263)(263)other exchange differences (79)111 60 (7)85 58 143 Total comprehensive income for the period 1,842 4,107 60 (270)6,231 11,970 540 12,510 Shares issued under employee remuneration and shareplans 1 (1)Dividend

150、s to shareholders (4,460)(4,460)(228)(4,688)Redemption of securities (1,673)20 (1,653)(1,653)Cost of share-based payment arrangements 254 254 254 Transfers (5,130)5,130 Share buy-backs (5,018)(5,018)(5,018)Cancellation of shares(442)442 Other movements 1,123 (255)(967)(1)77 89 66 (512)(446)At 31 Dec

151、 2023 24,369 17,719 (3,507)(1,033)(33,753)28,601 785 152,148 185,329 7,281 192,610 1 The insurance finance reserve reflects the impact of adoption of the other comprehensive income option for our insurance business in France.Underlying assets supporting these contracts are measured at fair value thr

152、ough other comprehensive income.Under this option,only the amount that matches income or expenses recognised in profit or loss on underlying items is included in finance income or expenses,resulting in the elimination of income statement accounting mismatches.The remaining amount of finance income o

153、r expenses for these insurance contracts is recognised in other comprehensive income(OCI).2 In June 2024,HSBC Holdings issued SGD1,500m of contingent convertible securities on which there were SGD15m of external issue costs.3 At 30 June 2024,an impairment of$2,945m of HSBC Overseas Holdings(UK)Limit

154、ed was recognised post sale of our banking business in Canada,resulting in a permitted transfer from the merger reserve to retained earnings.4 In February 2024,HSBC Holdings announced a share buy-back of up to$2.0bn,which concluded in March 2024.Additionally,in April 2024,HSBC Holdings announced ano

155、ther share buy-back of up to$3.0bn,which was completed in July 2024.14HSBC Holdings plc 2024 Interim ResultsConsolidated statement of cash flowsHalf-year to30 Jun 202430 Jun 2023$m$mProfit before tax 21,556 21,657 Adjustments for non-cash items:Depreciation,amortisation and impairment 1,969 1,591 Ne

156、t gain from investing activities(34)(41)Share of profit in associates and joint ventures(1,626)(1,583)Net gain on acquisition/disposal of subsidiaries,businesses,associates and joint ventures(3,199)(3,604)Change in expected credit losses gross of recoveries and other credit impairment charges 1,192

157、1,482 Provisions including pensions 15 148 Share-based payment expense 274 228 Other non-cash items included in profit before tax(4,237)(1,661)Elimination of exchange differences1 18,406 (6,558)Change in operating assets2(41,493)(52,745)Change in operating liabilities 36,486 72,836 Dividends receive

158、d from associates 130 124 Contributions paid to defined benefit plans(76)(87)Tax paid(2,664)(1,664)Net cash from operating activities 26,699 30,123 Purchase of financial investments(259,999)(298,182)Proceeds from the sale and maturity of financial investments 223,443 263,838 Net cash flows from the

159、purchase and sale of property,plant and equipment(464)(329)Net investment in intangible assets(1,058)(1,123)Net cash inflow on acquisition/disposal of subsidiaries,businesses,associates and joint ventures3 9,891 1,243 Net cash outflow on acquisition/disposal of subsidiaries,businesses,associates and

160、 joint ventures3(10,612)(15)Net cash from investing activities(38,799)(34,568)Issue of ordinary share capital and other equity instruments 1,106 1,996 Cancellation of shares(5,330)(1,273)Net sales/(purchases)of own shares for market-making and investment purposes(494)(823)Redemption of preference sh

161、ares and other equity instruments (2,350)Subordinated loan capital issued 2,611 2,744 Subordinated loan capital repaid(2,000)(1,044)Dividends paid to shareholders of the parent company and non-controlling interests(12,685)(7,508)Net cash from financing activities(16,792)(8,258)Net decrease in cash a

162、nd cash equivalents(28,892)(12,703)Cash and cash equivalents at the beginning of the period 490,933 521,671 Exchange differences in respect of cash and cash equivalents(13,057)8,565 Cash and cash equivalents at the end of the period4 448,984 517,533 Interest received was$54,197m(1H23:$46,817m),inter

163、est paid was$41,254m(1H23:$29,222m)and dividends received(excluding dividends received from associates,which are presented separately above)were$1,231m(1H23:$751m).1 Adjustments to bring changes between opening and closing balance sheet amounts to average rates.This is not done on a line-by-line bas

164、is,as details cannot be determined without unreasonable expense.2 Includes net settlement of the foreign exchange hedge of the proceeds from the sale of our banking business in Canada,with a$255m gain in 1H24(1H23:$284m loss).3 The Net cash inflow on acquisition/disposal of subsidiaries,businesses,a

165、ssociates and jointventures includes$9.3bn of net cash inflow on the sale of our banking business in Canada in March 2024.In 1H23,it included$1.2bn of net cash inflow on acquisition of Silicon Valley Bank UK Limited in March 2023.The Net cash outflow on acquisition/disposal of subsidiaries,businesse

166、s,associates and joint ventures includes$10.6bn of net cash outflow on the sale of our retail banking operations in France in January 2024.4 Includes$1.7bn(1H23:$7.5bn)of cash and cash equivalents classified as held for sale.HSBC Holdings plc 2024 Interim Results151Basis of preparation and material

167、accounting policies(a)Compliance with International Financial Reporting Standards Our interim condensed consolidated financial statements have been prepared on the basis of the policies set out in the 2023 annual financial statements.They have also been prepared in accordance with IAS 34 Interim Fin

168、ancial Reporting as adopted by the UK,IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board(IASB),IAS 34 Interim Financial Reporting as adopted by the EU,and the Disclosure Guidance and Transparency Rules sourcebook of the UKs Financial Conduct Authority.Theref

169、ore,they include an explanation of events and transactions that are significant to an understanding of the changes in HSBCs financial position and performance since the end of 2023.The interim condensed consolidated financial statements should be read in conjunction with the Annual Report and Accoun

170、ts 2023,which was prepared in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006 and international financial reporting standards adopted pursuant to Regulation(EC)No 1606/2002 as it applies in the European Union.The interim con

171、densed consolidated financial statements were also prepared in accordance with International Financial Reporting Standards(IFRS Accounting Standards)as issued by the IASB,including interpretations issued by the IFRS Interpretations Committee.At 30 June 2024,there were no IFRS Accounting Standards ef

172、fective for the half-year to 30 June 2024 affecting these financial statements that were not approved for adoption in the UK by the UK Endorsement Board.There was no difference between IFRS Accounting Standards adopted by the UK,IFRS Accounting Standards as adopted by the EU,and IFRS Accounting Stan

173、dards issued by the IASB in terms of their application to HSBC.Standards applied during the half-year to 30 June 2024There were no new standards or amendments to standards that had an effect on the interim condensed consolidated financial statements.(b)Use of estimates and judgements Management beli

174、eves that the critical estimates and judgements applicable to the Group are those that relate to impairment of amortised cost and FVOCI debt financial assets,the valuation of financial instruments,deferred tax assets,provisions,interests in associates,impairment of goodwill and non-financial assets,

175、and post-employment benefit plans.Other than in respect of non-current assets and disposal groups held for sale,there were no material changes in the current period to any of the critical estimates and judgements disclosed in 2023,which are stated on pages 101 and 343 to 354 of the Annual Report and

176、 Accounts 2023.(c)Composition of the Group In the first half of 2024 the sales of the retail banking operations in France,the banking business in Canada,and the business in Russia completed.There were no other material changes in the composition of the Group in the half-year to 30 June 2024.For furt

177、her details of future business acquisitions and disposals,see Note 15 Assets held for sale,liabilities of disposal groups held for sale and business acquisitions in the Interim Report 2024.(d)Future accounting developmentsAmendments to IAS 21 Lack of ExchangeabilityIn August 2023,the IASB published

178、amendments to IAS 21 Lack of Exchangeability effective from 1 January 2025.The Group is undertaking an assessment of the potential impact,which is not expected to be significant.Amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments:DisclosuresIn May 2024,the IASB issued amendme

179、nts to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments:Disclosures,effective for annual reporting periods beginning on,or after,1 January 2026.In addition to guidance as to when certain financial liabilities can be deemed settled when using an electronic payment system,the amendments a

180、lso provide further clarification regarding the classification of financial assets that contain contractual terms that change the timing or amount of contractual cash flows,including those arising from ESG-related contingencies,and financial assets with certain non-recourse features.The Group is und

181、ertaking an assessment of the potential impact.IFRS 18 Presentation and Disclosure in Financial StatementsIn April 2024,the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements,effective for annual reporting periods beginning on or after 1 January 2027.The new accounting standard

182、aims to give users of financial statements more transparent and comparable information about an entitys financial performance.It will replace IAS 1 Presentation of Financial Statements but carries over many requirements from that IFRS Accounting Standard unchanged.In addition,there are three sets of

183、 new requirements relating to the structure of the income statement,management-defined performance measures and the aggregation and disaggregation of financial information.While IFRS 18 will not change recognition criteria or measurement bases,it might have a significant impact on presenting informa

184、tion in the financial statements,in particular the income statement.HSBC are currently assessing any impacts as well as data readiness before developing a more detailed implementation plan.(e)Going concern The financial statements are prepared on a going concern basis,as the Directors are satisfied

185、that the Group and parent company have the resources to continue in business for the foreseeable future.In making this assessment,the Directors have considered a wide range of information relating to present and future conditions,including future projections of profitability,cash flows,capital requi

186、rements and capital resources.These considerations include stressed scenarios,as well as considering potential impacts from other top and emerging risks,and the related impact on profitability,capital and liquidity.16HSBC Holdings plc 2024 Interim Results(f)Accounting policies The accounting policie

187、s that we applied for the interim condensed consolidated financial statements are consistent with those described on pages 341 to 354 of the Annual Report and Accounts 2023,as are the methods of computation.2DividendsOn 31 July 2024,the Directors approved a second interim dividend for 2024 of$0.10 p

188、er ordinary share in respect of the financial year ending 31December 2024.This distribution amounts to approximately$1.849bn and will be payable on 27September 2024.No liability is recognised in the financial statements in respect of these dividends.Dividends paid to shareholders of HSBC Holdings pl

189、cHalf-year to30 Jun 202430 Jun 2023Per shareTotalPer shareTotal$m$mDividends paid on ordinary sharesIn respect of previous year:second interim dividend 0.23 4,590 fourth interim dividend 0.31 5,872 In respect of current year:first interim dividend 0.10 1,877 0.10 2,001 special dividend 0.21 3,942 To

190、tal 0.62 11,691 0.33 6,591 Total coupons on capital securities classified as equity 526 542 Dividends to shareholders 12,217 7,133 Second interim dividend for 2024 On 31 July 2024,the Directors approved a second interim dividend in respect of the financial year ending 31 December 2024 of$0.10 per or

191、dinary share(the dividend),a distribution of approximately$1.849bn.The dividend will be payable on 27 September 2024 to holders of record on the Principal Register in the UK,the Hong Kong Overseas Branch Register or the Bermuda Overseas Branch Register on 16 August 2024.The dividend will be payable

192、in US dollars,or in pounds sterling or Hong Kong dollars at the forward exchange rates quoted by HSBC Bank plc in London at or about 11.00am on 16 September 2024.The ordinary shares in London,Hong Kong and Bermuda will be quoted ex-dividend on 15August 2024.American Depositary Shares(ADSs)in New Yor

193、k will be quoted ex-dividend on 16 August 2024.The default currency on the Principal Register in the UK is pounds sterling,and dividends can also be paid in Hong Kong dollars or US dollars,or a combination of these currencies.International shareholders can register to join the Global Dividend Servic

194、e to receive dividends in their local currencies.Please register and read the terms and conditions at www.investorcentre.co.uk.UK shareholders can also register their sterling bank mandates at www.investorcentre.co.uk.The default currency on the Hong Kong Overseas Branch Register is Hong Kong dollar

195、s,and dividends can also be paid in US dollars or pounds sterling,or a combination of these currencies.Shareholders can arrange for direct credit of Hong Kong dollar cash dividends into their bank account,or arrange to send US dollar or pound sterling cheques to the credit of their bank account.Shar

196、eholders can register for these services at can also download a dividend currency election form from www.hkexnews.hk.The default currency on the Bermuda Overseas Branch Register is US dollars,and dividends can also be paid in Hong Kong dollars or pounds sterling,or a combination of these currencies.

197、Shareholders can change their dividend currency election by contacting the Bermuda investor relations team.Shareholders can download a dividend currency election form from to currency elections must be received by 12 September 2024 to be effective for this dividend.The dividend will be payable on AD

198、Ss,each of which represents five ordinary shares,on 27 September 2024 to holders of record on 16August2024.The dividend of$0.50 per ADS will be payable by the depositary in US dollars.Alternatively,the cash dividend may be invested in additional ADSs by participants in the dividend reinvestment plan

199、 operated by the depositary.Elections must be received by 6September2024.Any person who has acquired ordinary shares registered on the Principal Register in the UK,the Hong Kong Overseas Branch Register or the Bermuda Overseas Branch Register but who has not lodged the share transfer with the Princi

200、pal Registrar in the UK,Hong Kong Overseas Branch Registrar or Bermuda Overseas Branch Registrar should do so before 4.00pm local time on 16 August 2024 in order to receive the dividend.Ordinary shares may not be removed from or transferred to the Principal Register in the UK,the Hong Kong Overseas

201、Branch Register or the Bermuda Overseas Branch Register on 16 August 2024.Any person wishing to remove ordinary shares to or from each register must do so before 4.00pm local time on 15 August 2024.Transfer of ADSs must be lodged with the depositary by 11.00am on 16 August 2024 in order to receive t

202、he dividend.ADS holders who receive a cash dividend will be charged a fee,which will be deducted by the depositary,of$0.005 per ADS per cash dividend.Dividend on preference shareA quarterly dividend of 0.01 per Series A sterling preference share is payable on 15 March,17 June,16 September and 16Dece

203、mber 2024 for the quarter then ended at the sole and absolute discretion of the Board of HSBC Holdings plc.Accordingly,the Board of HSBC Holdings plc has approved a quarterly dividend to be payable on 16 September 2024 to holders of record on 30 August 2024.HSBC Holdings plc 2024 Interim Results173E

204、arnings per shareBasic earnings per ordinary share is calculated by dividing the profit attributable to ordinary shareholders of the parent company by the weighted average number of ordinary shares outstanding,excluding own shares held.Diluted earnings per ordinary share is calculated by dividing th

205、e basic earnings,which require no adjustment for the effects of dilutive potential ordinary shares,by the weighted average number of ordinary shares outstanding,excluding own shares held,plus the weighted average number of ordinary shares that would be issued on conversion of dilutive potential ordi

206、nary shares.Basic and diluted earnings per shareHalf-year to30 Jun 202430 Jun 2023ProfitNumberof sharesAmount per shareProfitNumber of sharesAmount per share$m(millions)$m(millions)$Basic1 16,586 18,666 0.89 16,966 19,693 0.86 Effect of dilutive potential ordinary shares 120 136 Diluted1 16,586 18,7

207、86 0.88 16,966 19,829 0.86 1 Weighted average number of ordinary shares outstanding(basic)or assuming dilution(diluted).4Constant currency balance sheet reconciliation At 30 Jun 2024At 30 June 2023At 31 Dec 2023Reported and constant currencyConstant currencyCurrency translationReportedConstant curre

208、ncyCurrency translationReported$m$m$m$m$m$m$mLoans and advances to customers(net)938,257 951,014 (8,544)959,558 925,791 (12,744)938,535 Interests in associates and joint ventures 28,465 29,534 (12)29,546 26,967 (377)27,344 Total external assets 2,975,003 3,011,721 (29,755)3,041,476 2,997,845 (40,832

209、)3,038,677 Customer accounts 1,593,834 1,580,418 (15,351)1,595,769 1,590,533 (21,114)1,611,647 5Reported and constant currency results1 Half-year to30 Jun 202430 Jun 2023$m$mRevenue2Reported 37,292 36,876 Currency translation(374)Constant currency 37,292 36,502 Change in expected credit losses and o

210、ther credit impairment chargesReported(1,066)(1,345)Currency translation 28 Constant currency(1,066)(1,317)Operating expensesReported(16,296)(15,457)Currency translation 213 Constant currency(16,296)(15,244)Share of profit in associates and joint venturesReported 1,626 1,583 Currency translation(52)

211、Constant currency 1,626 1,531 Profit before taxReported 21,556 21,657 Currency translation(185)Constant currency 21,556 21,472 Profit after taxReported 17,665 18,071 Currency translation(113)Constant currency 17,665 17,958 1 In the current period constant currency results are equal to reported as th

212、ere is no currency translation.2 Net operating income before change in expected credit losses and other credit impairment charges,also referred to as revenue.18HSBC Holdings plc 2024 Interim ResultsNotable itemsHalf-year to30 Jun 202430 Jun 2023$m$mRevenueDisposals,acquisitions and related costs1,2

213、3,571 3,321 Fair value movements on financial instruments3 15 Operating expensesDisposals,acquisitions and related costs(101)(118)Restructuring and other related costs4 19 47 TaxTax(charge)/credit on notable items 14 (500)Recognition of losses Uncertain tax positions 427 1 Includes a$4.8bn gain on d

214、isposal of our banking business in Canada,inclusive of a$0.3bn gain on the foreign exchange hedging of the sales proceeds,the recycling of$0.6bn in foreign currency translation reserve losses and$0.4bn of other reserves recycling losses.This is partly offset by a$1.2bn impairment recognised in relat

215、ion to the planned sale of our business in Argentina.2 In the first quarter of 2023,the$2.1bn reversal of the held for sale classification was recognised relating to the sale of our retail banking operations in France and a gain of$1.5bn was recognised in respect of the acquisition of SVB UK.3 Fair

216、value movements on non-qualifying hedges in HSBC Holdings.4 Relates to reversals of restructuring provisions recognised during 2022.6Contingent liabilities,contractual commitments and guaranteesAt30 Jun 202431 Dec 2023$m$mGuarantees and other contingent liabilities:financial guarantees 16,343 17,009

217、 performance and other guarantees 91,275 94,277 other contingent liabilities 543 636 At the end of the period 108,161 111,922 Commitments:1 documentary credits and short-term trade-related transactions 7,169 7,818 forward asset purchases and forward deposits placed 87,219 78,535 standby facilities,c

218、redit lines and other commitments to lend 780,929 810,797 At the end of the period 875,317 897,150 1 Includes$638,635m of commitments at 30 June 2024(31 December 2023:$661,015m),to which the impairment requirements in IFRS 9 are applied where HSBC has become party to an irrevocable commitment.Contin

219、gent liabilities arising from legal proceedings and regulatory and other matters against Group companies are excluded from this note but are disclosed in Note 7 below and Notes 11 and 13 of the Interim Report 2024.7Legal proceedings and regulatory matters HSBC is party to legal proceedings and regul

220、atory matters in a number of jurisdictions arising out of its normal business operations.Apart from the matters described below,HSBC considers that none of these matters are material.The recognition of provisions is determined in accordance with the accounting policies set out in Note 1 of the Annua

221、l Report and Accounts 2023.While the outcomes of legal proceedings and regulatory matters are inherently uncertain,management believes that,based on the information available to it,appropriate provisions have been made in respect of these matters as at 30 June 2024(see Note 11 of the Interim Report

222、2024).Where an individual provision is material,the fact that a provision has been made is stated and quantified,except to the extent that doing so would be seriously prejudicial.Any provision recognised does not constitute an admission of wrongdoing or legal liability.It is not practicable to provi

223、de an aggregate estimate ofpotential liability for our legal proceedings and regulatory matters as a class of contingent liabilities.Bernard L.Madoff Investment Securities LLCVarious non-US HSBC companies provided custodial,administration and similar services to a number of funds incorporated outsid

224、e the US whose assets were invested with Bernard L.Madoff Investment Securities LLC(Madoff Securities).Based on information provided by Madoff Securities as at 30 November 2008,the purported aggregate value of these funds was$8.4bn,including fictitious profits reported by Madoff.Based on information

225、 available to HSBC,the funds actual transfers to Madoff Securities minus their actual withdrawals from Madoff Securities during the time HSBC serviced the funds are estimated to have totalled approximately$4bn.Various HSBC companies have been named as defendants in lawsuits arising out of Madoff Sec

226、urities fraud.US litigation:The Madoff Securities Trustee has brought lawsuits against various HSBC companies and others,seeking recovery of alleged transfers from Madoff Securities to HSBC in the amount of$543m(plus interest),and these lawsuits remain pending in the US Bankruptcy Court for the Sout

227、hern District of New York(the US Bankruptcy Court).Certain Fairfield entities(together,Fairfield)(in liquidation)have brought a lawsuit in the US against fund shareholders,including HSBC companies that acted as nominees for clients,seeking restitution of redemption payments in the amount of$382m(plu

228、s interest).Fairfields claims against most of the HSBC companies have been dismissed by the US Bankruptcy Court and the US District Court for the Southern District of New York,but remain pending on appeal before the US Court of Appeals for the Second Circuit.Fairfields claims against HSBC Private Ba

229、nk(Suisse)SA and HSBC Securities Services Luxembourg(HSSL)have not been dismissed and their appeals are also pending before the US Court of Appeals for the HSBC Holdings plc 2024 Interim Results19Second Circuit.Meanwhile,proceedings before the US Bankruptcy Court with respect to the claims against H

230、SBC Private Bank(Suisse)SA and HSSL are ongoing.UK litigation:The Madoff Securities Trustee has filed a claim against various HSBC companies in the High Court of England and Wales,seeking recovery of transfers from Madoff Securities to HSBC.The claim has not yet been served and the amount claimed ha

231、s not been specified.Luxembourg litigation:In 2009,Herald Fund SPC(Herald)(in liquidation)brought an action against HSSL before the Luxembourg District Court,seeking restitution of cash and securities in the amount of$2.5bn(plus interest),or damages in the amount of$2bn(plus interest).In 2018,HSBC B

232、ank plc was added to the claim and Herald increased the amount of the alleged damages claim to$5.6bn(plus interest).The Luxembourg District Court has dismissed Heralds securities restitution claim,but reserved Heralds cash restitution and damages claims.Herald has appealed this dismissal to the Luxe

233、mbourg Court of Appeal,where the matter is pending.Beginning in 2009,various HSBC companies have been named as defendants in a number of actions brought by Alpha Prime Fund Limited in the Luxembourg District Court seeking damages for alleged breach of contract and negligence in the amount of$1.16bn(

234、plus interest).These matters are currently pending before the Luxembourg District Court.Beginning in 2014,HSSL and the Luxembourg branch of HSBC Bank plc have been named as defendants in a number of actions brought by Senator Fund SPC before the Luxembourg District Court seeking restitution of secur

235、ities in the amount of$625m(plus interest),or damages in the amount of$188m(plus interest).These matters are currently pending before the Luxembourg District Court.Based on the facts currently known,it is not practicable at this time for HSBC to predict the resolution of the pending matters,includin

236、g the timing or any possible impact on HSBC,which could be significant.US Anti-Terrorism Act litigationSince November 2014,a number of lawsuits have been filed in federal courts in the US against various HSBC companies and others on behalf of plaintiffs who are,or are related to,alleged victims of t

237、errorist attacks in the Middle East.In each case,it is alleged that the defendants aided and abetted the unlawful conduct of various sanctioned parties in violation of the US Anti-Terrorism Act,or provided banking services to customers alleged to have connections to terrorism financing.Seven actions

238、,which seek damages for unspecified amounts,remain pending and HSBCs motions to dismiss have been granted in three of these cases.These dismissals are subject to appeals and/or the plaintiffs re-pleading their claims.The four other actions are at an early stage.Based on the facts currently known,it

239、is not practicable at this time for HSBC to predict the resolution of these matters,including the timing or any possible impact on HSBC,which could be significant.Interbank offered rates investigation and litigationEuro interest rate derivatives:In December 2016,the European Commission(EC)issued a d

240、ecision finding that HSBC,among other banks,engaged in anti-competitive practices in connection with the pricing of euro interest rate derivatives,and the EC imposed a fine on HSBC based on a one-month infringement in 2007.The fine was annulled in 2019 and a lower fine was imposed in 2021.In January

241、 2023,the European Court of Justice dismissed an appeal by HSBC and upheld the ECs findings on HSBCs liability.A separate appeal by HSBC concerning the amount of the fine remains pending before the General Court of the European Union.US dollar Libor:Beginning in 2011,HSBC and other panel banks have

242、been named as defendants in a number of individual and putative class action lawsuits filed in federal and state courts in the US with respect to the setting of US dollar Libor.The complaints assert claims under various US federal and state laws,including antitrust and racketeering laws and the Comm

243、odity Exchange Act(US CEA).HSBC has concluded class settlements with five groups of plaintiffs,and several class action lawsuits brought by other groups of plaintiffs have been voluntarily dismissed.A number of individual US dollar Libor-related actions seeking damages for unspecified amounts remain

244、 pending.Based on the facts currently known,it is not practicable at this time for HSBC to predict the resolution of the pending matters,including the timing or any possible impact on HSBC,which could be significant.Foreign exchange-related investigations and litigation In December 2016,Brazils Admi

245、nistrative Council of Economic Defense initiated an investigation into the onshore foreign exchange market and identified a number of banks,including HSBC,as subjects of its investigation,which remains ongoing.Since 2017,HSBC Bank plc,among other financial institutions,has been defending a complaint

246、 filed by the Competition Commission of South Africa before the South African Competition Tribunal for alleged anti-competitive behaviour in the South African foreign exchange market.In 2020,a revised complaint was filed which also named HSBC Bank USA N.A.(HSBC Bank USA)as a defendant.In January 202

247、4,the South African Competition Appeal Court dismissed HSBC Bank USA from the revised complaint but denied HSBC Bank plcs application to dismiss.The Competition Commission and HSBC Bank plc have appealed to the Constitutional Court of South Africa.Since 2015,various HSBC companies and other banks ha

248、ve been named as defendants in a putative class action in the US District Court for the Southern District of New York filed by a group of retail customers who dealt in foreign exchange products.The plaintiffs allege that the defendants conspired to manipulate foreign exchange rates and seek damages

249、for unspecified amounts.In May 2024,the US Court of Appeals for the Second Circuit affirmed the dismissal of this action.HSBC Bank plc and HSBC Holdings have reached a settlement with plaintiffs in Israel to resolve a class action filed in the local courts alleging foreign exchange-related misconduc

250、t.The settlement remains subject to court approval.Lawsuits alleging foreign exchange-related misconduct remain pending against HSBC and other banks in courts in Brazil.In February 2024,HSBC Bank plc and HSBC Holdings were joined to an existing claim brought in the UK Competition Appeals Tribunal ag

251、ainst various other banks alleging historical anti-competitive behaviour in the foreign exchange market and seeking approximately 3bn in damages from all the defendants.This matter is at an early stage.It is possible that additional civil actions will be initiated against HSBC in relation to its his

252、torical foreign exchange activities.There are many factors that may affect the range of outcomes,and the resulting financial impact,of the pending matters,which could be significant.20HSBC Holdings plc 2024 Interim ResultsPrecious metals fix-related litigationUS litigation:HSBC and other members of

253、The London Silver Market Fixing Limited are defending a class action pending in the US District Court for the Southern District of New York alleging that,from January 2007 to December 2013,the defendants conspired to manipulate the price of silver and silver derivatives for their collective benefit

254、in violation of US antitrust laws,the US CEA and New York state law.In May 2023,this action,which seeks damages for unspecified amounts,was dismissed but remains pending on appeal.HSBC and other members of The London Platinum and Palladium Fixing Company Limited are defending a class action pending

255、in the US District Court for the Southern District of New York alleging that,from January 2008 to November 2014,the defendants conspired to manipulate the price of platinum group metals and related financial products for their collective benefit in violation of US antitrust laws and the US CEA.The d

256、efendants have reached a settlement-in-principle with the plaintiffs to resolve this action.The settlement-in-principle remains subject to documentation and court approval.Canada litigation:HSBC and other financial institutions are defending putative class actions filed in the Ontario and Quebec Sup

257、erior Courts of Justice alleging that the defendants conspired to manipulate the price of silver,gold and related derivatives in violation of the Canadian Competition Act and common law.These actions each seek CA$1bn in damages plus CA$250m in punitive damages.Two of the actions are proceeding and t

258、he others have been stayed.There are many factors that may affect the range of outcomes,and the resulting financial impact,of the pending matters,which could be significant.Tax-related investigations In March 2023,the French National Financial Prosecutor announced an investigation into a number of b

259、anks,including HSBC Continental Europe and the Paris branch of HSBC Bank plc,in connection with alleged tax fraud related to the dividend withholding tax treatment of certain trading activities.HSBC Bank plc and the German branch of HSBC Continental Europe also continue to cooperate with investigati

260、ons by the German public prosecutor into numerous financial institutions and their employees,in connection with the dividend withholding tax treatment of certain trading activities.Based on the facts currently known,it is not practicable at this time for HSBC to predict the resolution of these matte

261、rs,including the timing or any possible impact on HSBC,which could be significant.Gilts trading investigation and litigationSince 2018,the UK Competition and Markets Authority(CMA)has been investigating HSBC and four other banks for suspected anti-competitive conduct in relation to the historical tr

262、ading of gilts and related derivatives.In May 2023,the CMA announced its case against HSBC Bank plc and HSBC Holdings;both HSBC companies are contesting the CMAs allegations.In June 2023,HSBC Bank plc and HSBC Securities(USA)Inc.,among other banks,were named as defendants in a putative class action

263、filed in the US District Court for the Southern District of New York by plaintiffs alleging anti-competitive conduct in the gilts market and seeking damages for unspecified amounts.In September 2023,the defendants filed a motion to dismiss which remains pending.It is possible that additional civil a

264、ctions will be initiated against HSBC in relation to its historical gilts trading activities.Based on the facts currently known,it is not practicable at this time for HSBC to predict the resolution of these matters,including the timing or any possible impact on HSBC,which could be significant.UK col

265、lections and recoveries investigationIn 2019,the FCA began investigating HSBC Bank plcs,HSBC UK Bank plcs and Marks and Spencer Financial Services plcs compliance with regulatory standards relating to collections and recoveries operations in the UK between 2017 and 2018.In May 2024,the FCA concluded

266、 its investigation and imposed a 6m fine on HSBC Bank plc,HSBC UK Bank plc and Marks and Spencer Financial Services plc,which has been paid,and this matter is now closed.Korean short selling indictmentIn March 2024,the Korean Prosecutors Office issued a criminal indictment against The Hongkong and S

267、hanghai Banking Corporation Limited and three current and former employees for breaching short selling rules under the Financial Investment Services and Capital Markets Act in connection with trades carried out between August 2021 and December 2021.The Hongkong and Shanghai Banking Corporation Limit

268、ed is defending the action.Silicon Valley Bank(SVB)litigationIn May 2023,First-Citizens Bank&Trust Company(First Citizens)brought a lawsuit in the US District Court for the Northern District of California against various HSBC companies and seven US-based HSBC employees who had previously worked for

269、SVB.The lawsuit seeks$1bn in damages and alleges,among other things,that the various HSBC companies conspired with the individual defendants to solicit employees from First Citizens and that the individual defendants took confidential information belonging to SVB and/or First Citizens.In July 2024,t

270、he court dismissed several of First Citizens claims and also dismissed certain defendants for lack of jurisdiction,but allowed limited discovery into whether some of these defendants may be subject to jurisdiction.The remaining claims are proceeding against certain defendants.Based on the facts curr

271、ently known,it is not practicable at this time for HSBC to predict the resolution of this matter,including the timing or any possible impact on HSBC,which could be significant.Film Finance litigationIn June 2020,two separate investor groups issued claims against HSBC UK Bank plc(as successor to HSBC

272、 Private Bank(UK)Limited(PBGB)in the High Court of England and Wales seeking damages for unspecified amounts in connection with PBGBs role in the development of Eclipse film finance schemes.In March 2024,HSBC UK Bank plc reached a settlement with the first investor group.In April 2024,the High Court

273、 dismissed the second investor groups claims,and this matter is now closed.HSBC Holdings plc 2024 Interim Results21US mortgage securitisation litigationBeginning in 2014,a number of lawsuits were filed in various state and federal courts in the US against HSBC Bank USA,as a trustee of more than 280

274、mortgage securitisation trusts,seeking unspecified damages for losses in collateral value allegedly sustained by the trusts.HSBC Bank USA has reached settlements with a number of plaintiffs to resolve nearly all of these lawsuits.The remaining two actions are pending in a New York state court.HSBC B

275、ank USA and certain of its affiliates continue to defend a mortgage loan repurchase action seeking unspecified damages and specific performance brought by the trustee of a mortgage securitisation trust in New York state court.There are many factors that may affect the range of outcomes,and the resul

276、ting financial impact,of the pending matters,which could be significant.Mexican government bond litigationHSBC Mexico S.A.and other banks are named as defendants in a consolidated putative class action pending in the US District Court for the Southern District of New York alleging anti-competitive c

277、onduct in the Mexican government bond market between 2010 and 2014 and seeking damages for unspecified amounts.In February 2024,the US Court of Appeals for the Second Circuit reversed an earlier dismissal of this lawsuit.In May 2024,the plaintiffs amended their complaint and this action is ongoing.B

278、ased on the facts currently known,it is not practicable at this time for HSBC to predict the resolution of this matter,including the timing or any possible impact on HSBC,which could be significant.Stanford litigationSince 2009,HSBC Bank plc has been named as a defendant in numerous claims filed in

279、courts in the UK and the US arising from the collapse of Stanford International Bank Ltd,for which it was a correspondent bank from 2003 to 2009.In February 2023,HSBC Bank plc reached settlements with the plaintiffs to resolve the claims and these settlements have concluded.Other regulatory investig

280、ations,reviews and litigationHSBC Holdings and/or certain of its affiliates are also subject to a number of other enquiries and examinations,requests for information,investigations and reviews by various tax authorities,regulators,competition and law enforcement authorities,as well as legal proceedi

281、ngs including litigation,arbitration and other contentious proceedings,in connection with various matters arising out of their businesses and operations.At the present time,HSBC does not expect the ultimate resolution of any of these matters to be material to the Groups financial position;however,gi

282、ven the uncertainties involved in legal proceedings and regulatory matters,there can be no assurance regarding the eventual outcome of a particular matter or matters.8Events after the balance sheet dateOn 6 July 2024,the Hongkong and Shanghai Banking Corporation Limited(acting through its Mauritius

283、Branch)completed the sale of its Wealth and Personal Banking business to ABSA Bank(Mauritius)Limited,a wholly-owned subsidiary of ABSA Bank Group Limited.The financial impact was not significant for the Group.A second interim dividend for 2024 of$0.10 per ordinary share in respect of the financial y

284、ear ending 31 December 2024 was approved by the Directors on 31July 2024,as described in Note 2.On 31 July 2024,HSBC Holdings announced a share buy-back to purchase its ordinary shares up to a maximum consideration of$3.0bn,which is expected to commence shortly and complete within three months.22HSB

285、C Holdings plc 2024 Interim Results9Capital structureCapital ratiosAt30 Jun 202431 Dec 2023%Transitional basisCommon equity tier 1 ratio 15.0 14.8 Tier 1 ratio 17.3 16.9 Total capital ratio 20.6 20.0 End point basisCommon equity tier 1 ratio 15.0 14.8 Tier 1 ratio 17.3 16.9 Total capital ratio 20.1

286、19.6 Total regulatory capital and risk-weighted assetsAt30 Jun 202431 Dec 2023$m$mTransitional basisCommon equity tier 1 capital 125,293 126,501 Additional tier 1 capital 18,965 17,662 Tier 2 capital 27,826 27,041 Total regulatory capital 172,084 171,204 Risk-weighted assets 835,118 854,114 End poin

287、t basisCommon equity tier 1 capital 125,293 126,501 Additional tier 1 capital 18,965 17,662 Tier 2 capital 23,886 22,894 Total regulatory capital 168,144 167,057 Risk-weighted assets 835,118 854,114 Leverage ratio1At30 Jun 202431 Dec 2023$bn$bnTier 1 capital(leverage)144.3 144.2 Total leverage ratio

288、 exposure 2,514.5 2,574.8%Leverage ratio 5.7 5.6 1 Leverage ratio calculation is in line with the PRAs UK leverage rules.This includes IFRS 9 transitional arrangement and excludes central bank claims.10 Statutory accountsThe information in this media release is unaudited and does not constitute stat

289、utory accounts within the meaning of section 434 of the Companies Act 2006.The statutory accounts of HSBC Holdings plc for the year ended 31 December 2023 have been delivered to the Registrar of Companies in England and Wales in accordance with section 447 of the Companies Act 2006.The Groups audito

290、r,PricewaterhouseCoopers LLP(PwC)has reported on those accounts.Its report was unqualified,did not include a reference to any matters to which PwC drew attention by way of emphasis without qualifying its report and did not contain a statement under section 498(2)or(3)of the Companies Act 2006.The in

291、formation in this media release does not constitute the unaudited interim condensed consolidated financial statements which are contained in the Interim Report 2024.The Interim Report 2024 was approved by the Board of Directors on 31 July 2024.The unaudited interim condensed consolidated financial s

292、tatements included in the Interim Report 2024 have been reviewed by the Groups auditor,PwC,in accordance with International Standard on Review Engagements(UK)2410,Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the Financial Reporting Council for

293、use in the United Kingdom.The full report of its review,which was unmodified,is included in the Interim Report 2024.11 Dealings in HSBC Holdings listed securitiesHSBC has policies and procedures that,except where permitted by statute and regulation,prohibit it undertaking specified transactions in r

294、espect of its securities listed on The Stock Exchange of Hong Kong Limited(HKEx).Except for dealings as intermediaries or as trustees by subsidiaries of HSBC Holdings,or in relation to HSBC Holdings ordinary share buy-backs,neither HSBC Holdings nor any of its subsidiaries has purchased,sold or rede

295、emed any of its securities listed on HKEx during the half-year ended 30 June 2024.12 Earnings release and final resultsAn earnings release for the three-month period ending 30 September 2024 is expected to be issued on 29 October 2024.The results for the year to 31 December 2024 are expected to be a

296、nnounced on 19 February 2025.HSBC Holdings plc 2024 Interim Results2313 Corporate governance We are subject to corporate governance requirements in both the UK and Hong Kong.Throughout the six months ended 30 June 2024,we complied with the applicable provisions of the UK Corporate Governance Code,an

297、d also the requirements of the Hong Kong Corporate Governance Code.The UK Corporate Governance Code is available at www.frc.org.uk and the Hong Kong Corporate Governance Code is available at .hk.We note that the Financial Reporting Council have issued a new UK Corporate Governance Code,which will ap

298、ply to financial reporting periods from 1 January 2025,and that The Stock Exchange of Hong Kong Limited is currently consulting on changes to the Hong Kong Corporate Governance Code.The Group will take the necessary actions to ensure that we continue to be compliant with both Codes as the new provis

299、ions come into force.The Board has codified obligations for transactions in Group securities in accordance with the requirements of the UK Market Abuse Regulation and the rules governing the listing of securities on the HKEx,save that the HKEx has granted waivers from strict compliance with the rule

300、s that take into account accepted practices in the UK,particularly in respect of employee share plans.All Directors have confirmed that they have complied with their obligations in respect of transacting in Group securities throughout the period.There have been no material changes to the information

301、 disclosed in the Annual Report and Accounts 2023 in respect of the remuneration of employees,remuneration policies,bonus and share option plans and training schemes.Details of the number of employees are provided on page34 of the Interim Report 2024.The Board of Directors of HSBC Holdings plc as at

302、 the date of this announcement comprises:Sir Mark Edward Tucker*,Noel Paul Quinn,Geraldine Joyce Buckingham,Rachel Duan,Georges Bahjat Elhedery,Dame Carolyn Julie Fairbairn,James Anthony Forese,Ann Frances Godbehere,Steven Craig Guggenheimer,Dr Jos Antonio Meade Kuribrea,Kalpana Jaisingh Morparia,Ei

303、leen K Murray,Brendan Robert Nelson and Swee Lian Teo.*Non-executive Group Chairman Independent non-executive Director14 Interim Report 2024The Interim Report 2024 will be made available to shareholders on or about 23 August 2024.Copies of the Interim Report 2024 and this news release may be obtaine

304、d from Global Communications,HSBC Holdings plc,8 Canada Square,London E14 5HQ,United Kingdom;from Communications(Asia),The Hongkong and Shanghai Banking Corporation Limited,1 Queens Road Central,Hong Kong;or from US Communications,HSBC Bank USA,N.A.,1 West 39th Street,9th Floor,New York,NY 10018,USA

305、.The Interim Report 2024 and this news release may also be downloaded from the HSBC website,.A Chinese translation of the Interim Report 2024 is available upon request from Computershare Hong Kong Investor Services Limited,Rooms 1712-1716,17th Floor,Hopewell Centre,183 Queens Road East,Hong Kong.The

306、 Interim Report 2024 will be available on The Stock Exchange of Hong Kong Limiteds website .hk.15 Cautionary statement regarding forward-looking statementsThis news release may contain projections,estimates,forecasts,targets,commitments,ambitions,opinions,prospects,results,returns and forward-lookin

307、g statements with respect to the financial condition,results of operations,capital position,ESG related matters,strategy and business of the Group which can be identified by the use of forward-looking terminology such as may,will,should,expect,anticipate,project,estimate,seek,intend,target,plan,beli

308、eve,potential or reasonably possible,or the negatives thereof or other variations thereon or comparable terminology(together,forward-looking statements),including the strategic priorities and any financial,investment and capital targets and any ESG targets,commitments and ambitions described herein.

309、Any such forward-looking statements are not a reliable indicator of future performance,as they may involve significant stated or implied assumptions and subjective judgements which may or may not prove to be correct.There can be no assurance that any of the matters set out in forward-looking stateme

310、nts are attainable,will actually occur or will be realised or are complete or accurate.The assumptions and judgements may prove to be incorrect and involve known and unknown risks,uncertainties,contingencies and other important factors,many of which are outside the control of the Group.Actual achiev

311、ements,results,performance or other future events or conditions may differ materially from those stated,implied and/or reflected in any forward-looking statements due to a variety of risks,uncertainties and other factors(including without limitation those which are referable to general market or eco

312、nomic conditions,regulatory and government policy changes,increased volatility in interest rates and inflation levels and other macroeconomic risks,geopolitical tensions such as the Russia-Ukraine war and the Israel-Hamas war and potential further escalations,specific economic developments,such as t

313、he uncertain performance of the commercial real estate sector in mainland China,or as a result of data limitations and changes in applicable methodologies in relation to ESG related matters).Any such forward-looking statements are based on the beliefs,expectations and opinions of the Group at the da

314、te the statements are made,and the Group does not assume,and hereby disclaims,any obligation or duty to update,revise or supplement them if circumstances or managements beliefs,expectations or opinions should change.For these reasons,recipients should not place reliance on,and are cautioned about re

315、lying on,any forward-looking statements.No representations or warranties,expressed or implied,are given by or on behalf of the Group as to the achievement or reasonableness of any projections,estimates,forecasts,targets,commitments,ambitions,prospects or returns contained herein.Additional detailed

316、information concerning important factors,including but not limited to ESG related factors,that could cause actual results to differ materially from this news release is available in our Annual Report and Accounts for the fiscal year ended 31 December 2023 filed with the US Securities and Exchange Co

317、mmission(the SEC)on Form 20-F on 22 February 2024,our 1Q 2024 Earnings Release furnished to the SEC on Form 6-K on 30 April 2024 and our Interim Report 2024 for the six months ended 30 June 2024 which we expect to furnish to the SEC on Form 6-K on or around 31 July 2024.24HSBC Holdings plc 2024 Inte

318、rim Results16 Use of alternative performance measuresOur reported results are prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board(IFRS Accounting Standards)as detailed in the interim condensed consolidated financial statem

319、ents starting on page 113 of the Interim Report 2024.To measure our performance,we supplement our IFRS Accounting Standards figures with non-IFRS Accounting Standards measures,which constitute alternative performance measures under European Securities and Markets Authority guidance and non-GAAP fina

320、ncial measures defined in and presented in accordance with US Securities and Exchange Commission rules and regulations.These measures include those derived from our reported results that eliminate factors that distort period-on-period comparisons.The constant currency performance measure used in thi

321、s report is described below.Definitions and calculations of other alternative performance measures are included in Reconciliation of alternative performance measures on pages 56 to 61 of the Interim Report 2024,which is available at .All alternative performance measures are reconciled to the closest

322、 reported performance measure.The global business segmental results are presented on a constant currency basis in accordance with IFRS 8 Operating Segments as detailed in Note 5:Segmental analysis on page 122 of the Interim Report 2024.Constant currency performanceConstant currency performance is co

323、mputed by adjusting reported results for the effects of foreign currency translation differences,which distort period-on-period comparisons.We consider constant currency performance to provide useful information for investors by aligning internal and external reporting,and reflecting how management

324、assesses period-on-period performance.Notable itemsWe separately disclose notable items,which are components of our income statement that management would consider as outside the normal course of business and generally non-recurring in nature.Certain notable items are classified as material notable

325、items,which are a subset of notable items.Categorisation as a material notable item is dependent on the nature of each item in conjunction with the financial impact on the Groups income statement.For further information on our use of alternative performance measures,see pages 29 and 56 of the Interi

326、m Report 2024.17 Certain defined termsUnless the context requires otherwise,HSBC Holdings means HSBC Holdings plc and HSBC,the Group,we,us and our refer to HSBC Holdings together with its subsidiary undertakings.Within this document the Hong Kong Special Administrative Region of the Peoples Republic

327、 of China is referred to as Hong Kong.When used in the terms shareholders equity and total shareholders equity,shareholders means holders of HSBC Holdings ordinary shares and those preference shares and capital securities issued by HSBC Holdings classified as equity.The abbreviations$m and$bn repres

328、ent millions and billions(thousands of millions)of US dollars,respectively.18 Investor Relations/Media Relations contactsFor further information contact:Investor Relations Media RelationsUK Neil Sankoff UK Gillian JamesTelephone:+44(0)20 7991 5072 Telephone:+44(0)7584 404 238Email: Email:Hong Kong Y

329、afei Tian UK Kirsten SmartTelephone:+852 2899 8909 Telephone:+44(0)7725 733 311Email:.hk Email: Hong Kong Aman Ullah Telephone:+852 3941 1120 Email:.hkHSBC Holdings plc 2024 Interim Results25HSBCHoldingsplc8CanadaSquareLondonE145HQUnitedKingdomTelephone:+44(0)2079918888 Incorporated in England with limited liability Registered number 617987