汇丰银行（HSBC）2019年年度报告（英文版）（334页）.pdf

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1、 HSBC Holdings plc Annual Report and Accounts 2019 Reported revenue by global business RBWM 41% CMB 27% GB a reduced adjusted cost base of $31bn or below in 2022, underpinned by a new cost reduction plan of $4.5bn; and a reported RoTE in the range of 10% to 12% in 2022, with the full benefit of our

2、cost reductions and redeployed RWAs flowing into subsequent years. To achieve our targets, we expect to incur restructuring costs of around $6bn and asset disposal costs of around $1.2bn during the period to 2022, with the majority of restructuring costs incurred in 2020 and 2021. We intend to susta

3、in the dividend and maintain a common equity tier 1 (CET1) ratio in the range of 14% to 15%, and plan to be at the top end of this range by the end of 2022. We plan to suspend share buy-backs for 2020 and 2021, given the high level of restructuring expected to be undertaken over the next two years.

4、We intend to return to neutralising scrip dividend issuance from 2022 onwards. Delivery against our June 2018 financial targets Return on average tangible equity 8.4% Target: 11% by 2020 (2018: 8.6%) Adjusted jaws 3.1% Target: positive adjusted jaws (2018: (1.2)%) Dividends per ordinary share in res

5、pect of 2019 $0.51 Target: sustain (2018: $0.51) Further explanation of performance against Group financial targets may be found on page 26. Highlights The macroeconomic environment and interest rate outlook have changed since we set our strategic priorities and financial targets in June 2018. While

6、 much of our business has held up well, particularly in Asia and the markets served by our international network, underperformance in other areas had a negative impact on our returns. We have tempered our revenue growth expectations and adjusted our business plan accordingly. Our 2020 business updat