Key
financial metrics
|
|
|
Nine months ended
|
Quarter ended
|
|||
|
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
Footnotes
|
2020
|
2019
|
2020
|
2020
|
2019
|
Reported results
|
|
|
|
|
|
|
Reported revenue ($m)
|
|
38,672
|
42,727
|
11,927
|
13,059
|
13,355
|
Reported profit before tax ($m)
|
|
7,392
|
17,244
|
3,074
|
1,089
|
4,837
|
Reported profit after tax ($m)
|
|
5,164
|
13,732
|
2,039
|
617
|
3,795
|
Profit attributable to the ordinary shareholders of the parent
company ($m)
|
|
3,336
|
11,478
|
1,359
|
192
|
2,971
|
Cost efficiency ratio (%)
|
|
63.5
|
59.2
|
67.4
|
66.4
|
61.0
|
Basic earnings per share ($)
|
|
0.17
|
0.57
|
0.07
|
0.01
|
0.15
|
Diluted earnings per share ($)
|
|
0.16
|
0.57
|
0.07
|
0.01
|
0.15
|
Net interest margin (%)
|
|
1.35
|
1.59
|
1.20
|
1.33
|
1.56
|
Alternative performance measures
|
|
|
|
|
|
|
Adjusted revenue ($m)
|
|
38,542
|
41,162
|
12,065
|
13,433
|
13,347
|
Adjusted profit before tax ($m)
|
|
9,939
|
17,693
|
4,304
|
2,596
|
5,418
|
Adjusted cost efficiency ratio (%)
|
|
58.0
|
56.7
|
61.4
|
55.4
|
57.0
|
Expected credit losses and other credit impairment charges ('ECL')
(annualised) as % of average gross loans and advances to customers
(%)
|
|
0.96
|
0.25
|
0.30
|
1.49
|
0.32
|
Return on average ordinary shareholders' equity (annualised)
(%)
|
|
2.7
|
9.2
|
3.2
|
0.5
|
7.0
|
Return on average tangible equity (annualised) (%)
|
1
|
3.5
|
9.5
|
2.9
|
3.5
|
6.4
|
|
|
At
|
||
|
|
30 Sep
|
30 Jun
|
31 Dec
|
|
Footnotes
|
2020
|
2020
|
2019
|
Balance sheet
|
|
|
|
|
Total assets ($m)
|
|
2,955,935
|
2,922,798
|
2,715,152
|
Net loans and advances to customers ($m)
|
|
1,041,340
|
1,018,681
|
1,036,743
|
Customer accounts ($m)
|
|
1,568,714
|
1,532,380
|
1,439,115
|
Average interest-earning assets, year to date ($m)
|
|
2,070,703
|
2,034,939
|
1,922,822
|
Loans and advances to customers as % of customer accounts
(%)
|
|
66.4
|
66.5
|
72.0
|
Total shareholders' equity ($m)
|
|
191,904
|
187,036
|
183,955
|
Tangible ordinary shareholders' equity ($m)
|
|
152,260
|
147,879
|
144,144
|
Net asset value per ordinary share at period end ($)
|
2,3
|
8.41
|
8.17
|
8.00
|
Tangible net asset value per ordinary share at period end
($)
|
3
|
7.55
|
7.34
|
7.13
|
Capital, leverage and liquidity
|
|
|
|
|
Common equity tier 1 capital ratio (%)
|
4
|
15.6
|
15.0
|
14.7
|
Risk-weighted assets ($m)
|
4
|
857,024
|
854,552
|
843,395
|
Total capital ratio (%)
|
4
|
21.2
|
20.7
|
20.4
|
Leverage ratio (%)
|
4
|
5.4
|
5.3
|
5.3
|
High-quality liquid assets (liquidity value) ($bn)
|
|
654
|
654
|
601
|
Liquidity coverage ratio (%)
|
|
147
|
148
|
150
|
Share count
|
|
|
|
|
Period end basic number of $0.50 ordinary shares outstanding
(millions)
|
|
20,173
|
20,162
|
20,206
|
Period end basic number of $0.50 ordinary shares outstanding and
dilutive potential ordinary shares (millions)
|
|
20,227
|
20,198
|
20,280
|
Average basic number of $0.50 ordinary shares outstanding
(millions)
|
5
|
20,164
|
20,162
|
20,158
|
Dividend per ordinary share (in respect of the period)
($)
|
5
|
-
|
-
|
0.30
|
Contents
|
||||
|
Page
|
|
|
Page
|
Highlights
|
1
|
|
Summary consolidated balance sheet
|
19
|
Key financial metrics
|
2
|
|
Credit risk
|
19
|
Business highlights
|
3
|
|
Capital adequacy
|
29
|
Approach to risk management
|
3
|
|
Leverage
|
30
|
Geopolitical and macroeconomic risks
|
3
|
|
Risk-weighted assets
|
30
|
Adjusted performance
|
5
|
|
Summary information - global businesses
|
32
|
Financial performance
|
7
|
|
Summary information - geographical regions
|
38
|
Cautionary statement regarding forward-looking
statements
|
16
|
|
Dividend on preference shares
|
43
|
Summary consolidated income statement
|
18
|
|
Terms and abbreviations
|
44
|
|
|
|
|
|
Business
highlights
|
Approach
to risk management
|
Geopolitical
and macroeconomic risks
|
Adjusted
performance
|
Foreign currency translation differences
Foreign
currency translation differences for 9M20 and 3Q20 are computed
by retranslating into US dollars for non-US dollar branches,
subsidiaries, joint ventures and associates:
● the income
statements for 9M19 at the average rate of exchange for
9M20;
● the income
statements for quarterly periods at the average rates of exchange
for 3Q20; and
● the closing
prior period balance sheets at the prevailing rates of exchange at
30 September 2020.
No
adjustment has been made to the exchange rates used to translate
foreign currency-denominated assets and liabilities into
the functional currencies of any HSBC branches, subsidiaries,
joint ventures or associates. The constant currency data of HSBC's
Argentinian subsidiaries have not been adjusted further for the
impacts of hyperinflation. When reference is made to foreign
currency translation differences in tables or commentaries,
comparative data reported in the functional currencies of HSBC's
operations have been translated at the appropriate exchange rates
applied in the current period on the basis described
above.
|
Reconciliation
of reported and adjusted results
|
|||||||||||
|
|
Nine months ended
|
Quarter ended
|
||||||||
|
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|||||
|
|
2020
|
2019
|
2020
|
2020
|
2019
|
|||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
|||||
Revenue
|
|
|
|
|
|
|
|||||
Reported
|
1
|
38,672
|
|
42,727
|
|
11,927
|
|
13,059
|
|
13,355
|
|
Currency translation
|
|
|
(605)
|
|
|
279
|
|
76
|
|
||
Significant items
|
|
(130)
|
|
(960)
|
|
138
|
|
95
|
|
(84)
|
|
- customer redress programmes
|
|
22
|
|
118
|
|
48
|
|
(26)
|
|
118
|
|
- disposals, acquisitions and investment in new
businesses
|
|
8
|
|
(823)
|
|
-
|
|
1
|
|
4
|
|
- fair value movements on financial instruments
|
2
|
(310)
|
|
(260)
|
|
(11)
|
|
58
|
|
(210)
|
|
- restructuring and other related costs
|
3
|
150
|
|
-
|
|
101
|
|
58
|
|
-
|
|
- currency translation of significant items
|
|
|
5
|
|
|
4
|
|
4
|
|
||
Adjusted
|
|
38,542
|
|
41,162
|
|
12,065
|
|
13,433
|
|
13,347
|
|
Change in expected credit losses and other credit impairment
charges
|
|
|
|
|
|
|
|||||
Reported
|
|
(7,643)
|
|
(2,023)
|
|
(785)
|
|
(3,832)
|
|
(883)
|
|
Currency translation
|
|
|
92
|
|
|
(118)
|
|
40
|
|
||
Adjusted
|
|
(7,643)
|
|
(1,931)
|
|
(785)
|
|
(3,950)
|
|
(843)
|
|
Operating expenses
|
|
|
|
|
|
|
|||||
Reported
|
|
(24,568)
|
|
(25,296)
|
|
(8,041)
|
|
(8,675)
|
|
(8,147)
|
|
Currency translation
|
|
|
376
|
|
|
(226)
|
|
(78)
|
|
||
Significant items
|
|
2,215
|
|
1,578
|
|
630
|
|
1,461
|
|
620
|
|
- costs of structural reform
|
4
|
-
|
|
126
|
|
-
|
|
-
|
|
35
|
|
- customer redress programmes
|
|
53
|
|
1,098
|
|
3
|
|
49
|
|
488
|
|
- impairment of goodwill and other intangibles
|
|
1,082
|
|
-
|
|
57
|
|
1,025
|
|
-
|
|
- restructuring and other related costs
|
5
|
1,072
|
|
427
|
|
567
|
|
335
|
|
140
|
|
- settlements and provisions in connection with legal and
regulatory matters
|
|
8
|
|
(66)
|
|
3
|
|
4
|
|
(64)
|
|
- currency translation of significant items
|
|
|
(7)
|
|
|
48
|
|
21
|
|
||
Adjusted
|
|
(22,353)
|
|
(23,342)
|
|
(7,411)
|
|
(7,440)
|
|
(7,605)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|||||
Reported
|
|
931
|
|
1,836
|
|
(27)
|
|
537
|
|
512
|
|
Currency translation
|
|
|
(32)
|
|
|
16
|
|
7
|
|
||
Significant items
|
|
462
|
|
-
|
|
462
|
|
-
|
|
-
|
|
- impairment of goodwill
|
6
|
462
|
|
-
|
|
462
|
|
-
|
|
-
|
|
- currency translation of significant items
|
|
|
-
|
|
|
-
|
|
-
|
|
||
Adjusted
|
|
1,393
|
|
1,804
|
|
435
|
|
553
|
|
519
|
|
Profit before tax
|
|
|
|
|
|
|
|||||
Reported
|
|
7,392
|
|
17,244
|
|
3,074
|
|
1,089
|
|
4,837
|
|
Currency translation
|
|
|
(169)
|
|
|
(49)
|
|
45
|
|
||
Significant items
|
|
2,547
|
|
618
|
|
1,230
|
|
1,556
|
|
536
|
|
- revenue
|
|
(130)
|
|
(960)
|
|
138
|
|
95
|
|
(84)
|
|
- operating expenses
|
|
2,215
|
|
1,578
|
|
630
|
|
1,461
|
|
620
|
|
- share in profit of associates and joint
ventures
|
|
462
|
|
-
|
|
462
|
|
-
|
|
-
|
|
Adjusted
|
|
9,939
|
|
17,693
|
|
4,304
|
|
2,596
|
|
5,418
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|||||
Reported
|
|
1,041,340
|
|
1,017,833
|
|
1,041,340
|
|
1,018,681
|
|
1,017,833
|
|
Currency translation
|
|
|
24,480
|
|
|
23,303
|
|
24,480
|
|
||
Adjusted
|
|
1,041,340
|
|
1,042,313
|
|
1,041,340
|
|
1,041,984
|
|
1,042,313
|
|
Customer accounts
|
|
|
|
|
|
|
|||||
Reported
|
|
1,568,714
|
|
1,373,741
|
|
1,568,714
|
|
1,532,380
|
|
1,373,741
|
|
Currency translation
|
|
|
31,188
|
|
|
32,692
|
|
31,188
|
|
||
Adjusted
|
|
1,568,714
|
|
1,404,929
|
|
1,568,714
|
|
1,565,072
|
|
1,404,929
|
|
Financial
performance
|
Distribution
of results by global business
|
||||||||||
|
Nine months ended
|
Quarter
ended
|
||||||||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|||||
|
2020
|
2019
|
2020
|
2020
|
2019
|
|||||
|
$m
|
$m
|
$m
|
$m
|
$m
|
|||||
Adjusted profit/(loss) before tax
|
|
|
|
|
|
|||||
Wealth and Personal Banking
|
3,121
|
|
6,798
|
|
1,426
|
|
994
|
|
1,973
|
|
Commercial Banking
|
1,360
|
|
5,540
|
|
1,176
|
|
(502)
|
|
1,631
|
|
Global Banking and Markets
|
3,780
|
|
3,960
|
|
1,232
|
|
1,684
|
|
1,223
|
|
Corporate Centre
|
1,678
|
|
1,395
|
|
470
|
|
420
|
|
591
|
|
Total
|
9,939
|
|
17,693
|
|
4,304
|
|
2,596
|
|
5,418
|
|
Distribution
of results by geographical region
|
||||||||||
|
Nine
months ended
|
Quarter
ended
|
||||||||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|||||
|
2020
|
2019
|
2020
|
2020
|
2019
|
|||||
|
$m
|
$m
|
$m
|
$m
|
$m
|
|||||
Reported profit/(loss) before tax
|
|
|
|
|
|
|||||
Europe
|
(2,976)
|
|
(944)
|
|
84
|
|
(2,549)
|
|
(424)
|
|
Asia
|
10,556
|
|
14,431
|
|
3,187
|
|
3,629
|
|
4,651
|
|
Middle East and North Africa
|
(326)
|
|
2,041
|
|
(300)
|
|
(70)
|
|
305
|
|
North America
|
16
|
|
1,045
|
|
(7)
|
|
134
|
|
299
|
|
Latin America
|
122
|
|
671
|
|
110
|
|
(55)
|
|
6
|
|
Total
|
7,392
|
|
17,244
|
|
3,074
|
|
1,089
|
|
4,837
|
|
Adjusted profit/(loss) before tax
|
|
|
|
|
|
|||||
Europe
|
(1,561)
|
|
295
|
|
398
|
|
(1,294)
|
|
84
|
|
Asia
|
10,568
|
|
14,509
|
|
3,215
|
|
3,742
|
|
4,695
|
|
Middle East and North Africa
|
200
|
|
1,226
|
|
186
|
|
(30)
|
|
303
|
|
North America
|
588
|
|
1,101
|
|
375
|
|
222
|
|
319
|
|
Latin America
|
144
|
|
562
|
|
130
|
|
(44)
|
|
17
|
|
Total
|
9,939
|
|
17,693
|
|
4,304
|
|
2,596
|
|
5,418
|
|
Movement
in reported profit before tax compared with 3Q19
|
||||||||
|
Quarter ended
|
|||||||
|
30 Sep
|
30 Sep
|
Variance
|
|||||
|
2020
|
2019
|
3Q20 vs. 3Q19
|
|||||
|
$m
|
$m
|
$m
|
%
|
||||
Revenue
|
11,927
|
|
13,355
|
|
(1,428)
|
|
(11)
|
|
ECL
|
(785)
|
|
(883)
|
|
98
|
|
11
|
|
Operating expenses
|
(8,041)
|
|
(8,147)
|
|
106
|
|
1
|
|
Share of profit from associates and JVs
|
(27)
|
|
512
|
|
(539)
|
|
(105)
|
|
Profit before tax
|
3,074
|
|
4,837
|
|
(1,763)
|
|
(36)
|
|
Tax expense
|
(1,035)
|
|
(1,042)
|
|
7
|
|
1
|
|
Profit after tax
|
2,039
|
|
3,795
|
|
(1,756)
|
|
(46)
|
|
Movement
in adjusted profit before tax compared with 3Q19
|
||||||||
|
Quarter ended
|
|||||||
|
30 Sep
|
30 Sep
|
Variance
|
|||||
|
2020
|
2019
|
3Q20 vs. 3Q19
|
|||||
|
$m
|
$m
|
$m
|
%
|
||||
Revenue
|
12,065
|
|
13,347
|
|
(1,282)
|
|
(10)
|
|
ECL
|
(785)
|
|
(843)
|
|
58
|
|
7
|
|
Operating expenses
|
(7,411)
|
|
(7,605)
|
|
194
|
|
3
|
|
Share of profit from associates and JVs
|
435
|
|
519
|
|
(84)
|
|
(16)
|
|
Profit before tax
|
4,304
|
|
5,418
|
|
(1,114)
|
|
(21)
|
|
Movement
in reported profit before tax compared with 9M19
|
||||||||
|
Nine months ended
|
|||||||
|
30 Sep
|
30 Sep
|
Variance
|
|||||
|
2020
|
2019
|
9M20 vs. 9M19
|
|||||
|
$m
|
$m
|
$m
|
%
|
||||
Revenue
|
38,672
|
|
42,727
|
|
(4,055)
|
|
(9)
|
|
ECL
|
(7,643)
|
|
(2,023)
|
|
(5,620)
|
|
>(200)
|
|
Operating expenses
|
(24,568)
|
|
(25,296)
|
|
728
|
|
3
|
|
Share of profit from associates and JVs
|
931
|
|
1,836
|
|
(905)
|
|
(49)
|
|
Profit before tax
|
7,392
|
|
17,244
|
|
(9,852)
|
|
(57)
|
|
Tax expense
|
(2,228)
|
|
(3,512)
|
|
1,284
|
|
37
|
|
Profit after tax
|
5,164
|
|
13,732
|
|
(8,568)
|
|
(62)
|
|
Movement
in adjusted profit before tax compared with 9M19
|
||||||||
|
Nine months ended
|
|||||||
|
30 Sep
|
30 Sep
|
Variance
|
|||||
|
2020
|
2019
|
9M20 vs. 9M19
|
|||||
|
$m
|
$m
|
$m
|
%
|
||||
Revenue
|
38,542
|
|
41,162
|
|
(2,620)
|
|
(6)
|
|
ECL
|
(7,643)
|
|
(1,931)
|
|
(5,712)
|
|
>(200)
|
|
Operating expenses
|
(22,353)
|
|
(23,342)
|
|
989
|
|
4
|
|
Share of profit from associates and JVs
|
1,393
|
|
1,804
|
|
(411)
|
|
(23)
|
|
Profit before tax
|
9,939
|
|
17,693
|
|
(7,754)
|
|
(44)
|
|
Management
view of adjusted revenue
|
|||||||||||||||
|
|
Nine months ended
|
Quarter ended
|
||||||||||||
|
|
30 Sep
|
30 Sep
|
Variance
|
30 Sep
|
30 Jun
|
30 Sep
|
||||||||
|
|
2020
|
2019
|
9M20 vs. 9M19
|
2020
|
2020
|
2019
|
||||||||
|
Footnotes
|
$m
|
$m
|
$m
|
%
|
$m
|
$m
|
$m
|
|||||||
Retail Banking
|
|
9,895
|
|
11,639
|
|
(1,744)
|
|
(15)
|
|
2,999
|
|
3,133
|
|
3,990
|
|
- net interest income
|
|
8,987
|
|
10,394
|
|
(1,407)
|
|
(14)
|
|
2,686
|
|
2,882
|
|
3,585
|
|
- non-interest income
|
|
908
|
|
1,245
|
|
(337)
|
|
(27)
|
|
313
|
|
251
|
|
405
|
|
Wealth Management
|
|
5,765
|
|
6,491
|
|
(726)
|
|
(11)
|
|
2,160
|
|
2,214
|
|
1,983
|
|
- investment distribution
|
|
2,473
|
|
2,541
|
|
(68)
|
|
(3)
|
|
872
|
|
726
|
|
844
|
|
- life insurance manufacturing
|
|
1,188
|
|
1,780
|
|
(592)
|
|
(33)
|
|
601
|
|
800
|
|
408
|
|
- Global Private Banking
|
|
1,339
|
|
1,410
|
|
(71)
|
|
(5)
|
|
418
|
|
420
|
|
485
|
|
net
interest income
|
|
514
|
|
668
|
|
(154)
|
|
(23)
|
|
142
|
|
163
|
|
227
|
|
non-interest
income
|
|
825
|
|
742
|
|
83
|
|
11
|
|
276
|
|
257
|
|
258
|
|
- asset management
|
|
765
|
|
760
|
|
5
|
|
1
|
|
269
|
|
268
|
|
246
|
|
Other
|
1
|
356
|
|
574
|
|
(218)
|
|
(38)
|
|
93
|
|
148
|
|
171
|
|
Balance Sheet Management, Holdings interest expense and Argentina
hyperinflation
|
|
676
|
|
388
|
|
288
|
|
74
|
|
189
|
|
248
|
|
86
|
|
Net operating income
|
2
|
16,692
|
|
19,092
|
|
(2,400)
|
|
(13)
|
|
5,441
|
|
5,743
|
|
6,230
|
|
RoTE excluding significant items and UK bank levy (annualised)
(%)
|
|
7.6
|
17.9
|
|
|
|
|
|
|
Management
view of adjusted revenue
|
|||||||||||||||
|
|
Nine months ended
|
Quarter ended
|
||||||||||||
|
|
30 Sep
|
30 Sep
|
Variance
|
30 Sep
|
30 Jun
|
30 Sep
|
||||||||
|
|
2020
|
2019
|
9M20 vs. 9M19
|
2020
|
2020
|
2019
|
||||||||
|
Footnotes
|
$m
|
$m
|
$m
|
%
|
$m
|
$m
|
$m
|
|||||||
Global Trade and Receivables Finance
|
|
1,321
|
|
1,388
|
|
(67)
|
|
(5)
|
|
429
|
|
432
|
|
467
|
|
Credit and Lending
|
|
4,183
|
|
4,072
|
|
111
|
|
3
|
|
1,442
|
|
1,394
|
|
1,387
|
|
Global Liquidity and Cash Management
|
|
3,283
|
|
4,497
|
|
(1,214)
|
|
(27)
|
|
936
|
|
1,034
|
|
1,510
|
|
Markets products, Insurance and Investments, and Other
|
1
|
1,231
|
|
1,515
|
|
(284)
|
|
(19)
|
|
341
|
|
421
|
|
460
|
|
Balance Sheet Management, Holdings interest expense and Argentina
hyperinflation
|
|
147
|
|
(26)
|
|
173
|
|
>200
|
17
|
|
62
|
|
(24)
|
|
|
Net operating income
|
2
|
10,165
|
|
11,446
|
|
(1,281)
|
|
(11)
|
|
3,165
|
|
3,343
|
|
3,800
|
|
RoTE excluding significant items and UK bank levy (annualised)
(%)
|
|
1.1
|
|
14.0
|
|
|
|
|
|
|
Management
view of adjusted revenue
|
|
|
|
||||||||||||
|
|
Nine months ended
|
Quarter ended
|
||||||||||||
|
|
30 Sep
|
30 Sep
|
Variance
|
30 Sep
|
30 Jun
|
30 Sep
|
||||||||
|
|
2020
|
2019
|
9M20 vs. 9M19
|
2020
|
2020
|
2019
|
||||||||
|
Footnotes
|
$m
|
$m
|
$m
|
%
|
$m
|
$m
|
$m
|
|||||||
Global Markets
|
|
5,859
|
|
4,468
|
|
1,391
|
|
31
|
|
1,588
|
|
2,177
|
|
1,373
|
|
-
FICC
|
|
5,209
|
|
3,655
|
|
1,554
|
|
43
|
|
1,296
|
|
2,107
|
|
1,163
|
|
Foreign
Exchange
|
|
2,683
|
|
1,995
|
|
688
|
|
34
|
|
766
|
|
803
|
|
720
|
|
Rates
|
|
1,583
|
|
1,175
|
|
408
|
|
35
|
|
232
|
|
685
|
|
311
|
|
Credit
|
|
943
|
|
485
|
|
458
|
|
94
|
|
298
|
|
619
|
|
132
|
|
-
Equities
|
|
650
|
|
813
|
|
(163)
|
|
(20)
|
|
292
|
|
70
|
|
210
|
|
Securities Services
|
1
|
1,353
|
|
1,502
|
|
(149)
|
|
(10)
|
|
409
|
|
444
|
|
516
|
|
Global Banking
|
1
|
2,897
|
|
2,877
|
|
20
|
|
1
|
|
953
|
|
1,024
|
|
990
|
|
Global Liquidity and Cash Management
|
|
1,552
|
|
2,047
|
|
(495)
|
|
(24)
|
|
457
|
|
494
|
|
690
|
|
Global Trade and Receivables Finance
|
|
584
|
|
601
|
|
(17)
|
|
(3)
|
|
192
|
|
204
|
|
202
|
|
Principal Investments
|
|
40
|
|
215
|
|
(175)
|
|
(81)
|
|
52
|
|
226
|
|
94
|
|
Credit and funding valuation adjustments
|
|
(322)
|
|
(153)
|
|
(169)
|
|
(110)
|
|
32
|
|
(9)
|
|
(167)
|
|
Other
|
2
|
(453)
|
|
(532)
|
|
79
|
|
15
|
|
(153)
|
|
(145)
|
|
(201)
|
|
Balance Sheet Management, Holdings interest expense and Argentina
hyperinflation
|
|
282
|
|
79
|
|
203
|
|
>200
|
84
|
|
108
|
|
18
|
|
|
Net operating income
|
3
|
11,792
|
|
11,104
|
|
688
|
|
6
|
|
3,614
|
|
4,523
|
|
3,515
|
|
RoTE excluding significant items and UK bank levy (annualised)
(%)
|
|
6.9
|
10.0
|
|
|
|
|
|
|
Management
view of adjusted revenue
|
|||||||||||||||
|
|
Nine months ended
|
Quarter ended
|
||||||||||||
|
|
30 Sep
|
30 Sep
|
Variance
|
30 Sep
|
30 Jun
|
30 Sep
|
||||||||
|
|
2020
|
2019
|
9M20 vs. 9M19
|
2020
|
2020
|
2019
|
||||||||
|
Footnotes
|
$m
|
$m
|
$m
|
%
|
$m
|
$m
|
$m
|
|||||||
Central Treasury
|
1
|
169
|
|
226
|
|
(57)
|
|
(25)
|
|
(32)
|
|
(64)
|
|
88
|
|
Legacy portfolios
|
|
(20)
|
|
(124)
|
|
104
|
|
84
|
|
28
|
|
43
|
|
(41)
|
|
Other
|
2
|
(256)
|
|
(582)
|
|
326
|
|
56
|
|
(151)
|
|
(155)
|
|
(245)
|
|
Net operating income
|
3
|
(107)
|
|
(480)
|
|
373
|
|
78
|
|
(155)
|
|
(176)
|
|
(198)
|
|
RoTE excluding significant items and UK bank levy (annualised)
(%)
|
|
4.6
|
1.3
|
|
|
|
|
|
|
|
|
Nine months ended
|
Quarter ended
|
||||||||
|
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|||||
|
|
2020
|
2019
|
2020
|
2020
|
2019
|
|||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
|||||
Net interest income
|
|
20,959
|
|
22,808
|
|
6,450
|
|
6,897
|
|
7,568
|
|
Average interest-earning assets
|
|
2,070,703
|
|
1,915,149
|
|
2,141,454
|
|
2,078,178
|
|
1,919,955
|
|
|
|
%
|
%
|
%
|
%
|
%
|
|||||
Gross interest yield
|
1
|
2.09
|
|
2.89
|
|
1.76
|
|
2.01
|
|
2.83
|
|
Less: cost of funds
|
1
|
(0.89)
|
|
(1.53)
|
|
(0.68)
|
|
(0.81)
|
|
(1.49)
|
|
Net interest spread
|
2
|
1.20
|
|
1.36
|
|
1.08
|
|
1.20
|
|
1.34
|
|
Net interest margin
|
3
|
1.35
|
|
1.59
|
|
1.20
|
|
1.33
|
|
1.56
|
|
Cautionary
statement regarding forward-looking statements
|
Investor Relations
|
Media Relations
|
|
|
UK - Richard O'Connor
|
UK - Heidi Ashley
|
|
|
Tel: +44 (0) 20 7991 6590
|
Tel: +44 (0) 20 7992 2045
|
|
|
|
|
||
Hong Kong - Mark Phin
|
Hong Kong - Patrick Humphris
|
|
|
Tel: +852 2822 4908
|
Tel: +852 2822 2052
|
|
|
Summary
consolidated income statement
|
|
|
Nine months ended
|
Quarter ended
|
|||
|
30 Sep
|
30 Sep
|
30 Sep
|
30 Jun
|
30 Sep
|
|
2020
|
2019
|
2020
|
2020
|
2019
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Net interest income
|
20,959
|
22,808
|
6,450
|
6,897
|
7,568
|
Net fee income
|
8,907
|
9,085
|
2,981
|
2,803
|
2,961
|
Net income from financial instruments held for trading or managed
on a fair value basis
|
7,768
|
7,877
|
2,000
|
2,404
|
2,546
|
Net income/(expense) from assets and liabilities of insurance
businesses, including related derivatives, measured at fair value
through profit or loss
|
(254)
|
2,318
|
1,036
|
2,290
|
122
|
Changes
in fair value of designated debt and related
derivatives1
|
278
|
149
|
81
|
(49)
|
61
|
Changes in fair value of other financial instruments mandatorily
measured at fair valuethrough profit or loss
|
259
|
617
|
179
|
453
|
160
|
Gains less losses from financial investments
|
599
|
316
|
133
|
154
|
115
|
Net insurance premium income
|
7,798
|
9,047
|
2,779
|
2,110
|
2,724
|
Other operating income
|
805
|
2,935
|
334
|
67
|
863
|
Total operating income
|
47,119
|
55,152
|
15,973
|
17,129
|
17,120
|
Net insurance claims and benefits paid and movement in liabilities
to policyholders
|
(8,447)
|
(12,425)
|
(4,046)
|
(4,070)
|
(3,765)
|
Net operating income before change in expected credit losses and
other credit impairment charges2
|
38,672
|
42,727
|
11,927
|
13,059
|
13,355
|
Change in expected credit losses and other credit impairment
charges
|
(7,643)
|
(2,023)
|
(785)
|
(3,832)
|
(883)
|
Net operating income
|
31,029
|
40,704
|
11,142
|
9,227
|
12,472
|
Total operating expenses excluding impairment of goodwill and other
intangible assets
|
(23,207)
|
(25,268)
|
(7,968)
|
(7,451)
|
(8,143)
|
Impairment of goodwill and other intangible assets
|
(1,361)
|
(28)
|
(73)
|
(1,224)
|
(4)
|
Operating profit
|
6,461
|
15,408
|
3,101
|
552
|
4,325
|
Share of profit in associates and joint ventures
|
931
|
1,836
|
(27)
|
537
|
512
|
Profit before tax
|
7,392
|
17,244
|
3,074
|
1,089
|
4,837
|
Tax expense
|
(2,228)
|
(3,512)
|
(1,035)
|
(472)
|
(1,042)
|
Profit after tax
|
5,164
|
13,732
|
2,039
|
617
|
3,795
|
Attributable to:
|
|
|
|
|
|
- ordinary shareholders of the parent company
|
3,336
|
11,478
|
1,359
|
192
|
2,971
|
- preference shareholders of the parent company
|
67
|
67
|
22
|
23
|
22
|
- other equity holders
|
1,066
|
1,148
|
449
|
176
|
484
|
- non-controlling interests
|
695
|
1,039
|
209
|
226
|
318
|
Profit after tax
|
5,164
|
13,732
|
2,039
|
617
|
3,795
|
|
$
|
$
|
$
|
$
|
$
|
Basic earnings per share
|
0.17
|
0.57
|
0.07
|
0.01
|
0.15
|
Diluted earnings per share
|
0.16
|
0.57
|
0.07
|
0.01
|
0.15
|
Dividend
per ordinary share3
|
-
|
0.41
|
-
|
-
|
0.10
|
|
%
|
%
|
%
|
%
|
%
|
Return on average ordinary shareholders' equity
(annualised)
|
2.7
|
9.2
|
3.2
|
0.5
|
7.0
|
Return on average tangible equity (annualised)
|
3.5
|
9.5
|
2.9
|
3.5
|
6.4
|
Cost efficiency ratio
|
63.5
|
59.2
|
67.4
|
66.4
|
61.0
|
Summary
consolidated balance sheet
|
|
At
|
|||||
|
30 Sep
|
30 Jun
|
31 Dec
|
|||
|
2020
|
2020
|
2019
|
|||
|
$m
|
$m
|
$m
|
|||
Assets
|
|
|
|
|||
Cash and balances at central banks
|
285,508
|
|
249,673
|
|
154,099
|
|
Trading assets
|
222,355
|
|
208,964
|
|
254,271
|
|
Financial assets designated and otherwise mandatorily measured at
fair value through profit or loss
|
44,253
|
|
41,785
|
|
43,627
|
|
Derivatives
|
294,678
|
|
313,781
|
|
242,995
|
|
Loans and advances to banks
|
83,854
|
|
77,015
|
|
69,203
|
|
Loans
and advances to customers1
|
1,041,340
|
|
1,018,681
|
|
1,036,743
|
|
Reverse repurchase agreements - non-trading
|
221,179
|
|
226,345
|
|
240,862
|
|
Financial investments
|
475,302
|
|
494,109
|
|
443,312
|
|
Other assets
|
287,466
|
|
292,445
|
|
230,040
|
|
Total assets
|
2,955,935
|
|
2,922,798
|
|
2,715,152
|
|
Liabilities and equity
|
|
|
|
|||
Liabilities
|
|
|
|
|||
Deposits by banks
|
91,739
|
|
82,715
|
|
59,022
|
|
Customer accounts
|
1,568,714
|
|
1,532,380
|
|
1,439,115
|
|
Repurchase agreements - non-trading
|
118,844
|
|
112,799
|
|
140,344
|
|
Trading liabilities
|
80,338
|
|
79,612
|
|
83,170
|
|
Financial liabilities designated at fair value
|
156,459
|
|
156,608
|
|
164,466
|
|
Derivatives
|
285,239
|
|
303,059
|
|
239,497
|
|
Debt securities in issue
|
102,406
|
|
110,114
|
|
104,555
|
|
Liabilities under insurance contracts
|
102,708
|
|
98,832
|
|
97,439
|
|
Other liabilities
|
249,227
|
|
251,458
|
|
194,876
|
|
Total liabilities
|
2,755,674
|
|
2,727,577
|
|
2,522,484
|
|
Equity
|
|
|
|
|||
Total shareholders' equity
|
191,904
|
|
187,036
|
|
183,955
|
|
Non-controlling interests
|
8,357
|
|
8,185
|
|
8,713
|
|
Total equity
|
200,261
|
|
195,221
|
|
192,668
|
|
Total liabilities and equity
|
2,955,935
|
|
2,922,798
|
|
2,715,152
|
|
Credit
risk
|
Summary
of financial instruments to which the impairment requirements in
IFRS 9 are applied
|
|||||||||
|
|
At 30 Sep 2020
|
At 31 Dec 2019
|
||||||
|
|
Gross carrying/nominal amount
|
Allowance for ECL1
|
Gross carrying/nominal amount
|
Allowance
for
ECL1
|
||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
||||
Loans and advances to customers at amortised cost
|
|
1,055,042
|
|
(13,702)
|
|
1,045,475
|
|
(8,732)
|
|
- personal
|
|
452,101
|
|
(4,540)
|
|
434,271
|
|
(3,134)
|
|
- corporate and commercial
|
|
532,842
|
|
(8,806)
|
|
540,499
|
|
(5,438)
|
|
- non-bank financial institutions
|
|
70,099
|
|
(356)
|
|
70,705
|
|
(160)
|
|
Loans and advances to banks at amortised cost
|
|
83,904
|
|
(50)
|
|
69,219
|
|
(16)
|
|
Other financial assets measured at amortised cost
|
|
776,067
|
|
(251)
|
|
615,179
|
|
(118)
|
|
- cash and balances at central banks
|
|
285,518
|
|
(10)
|
|
154,101
|
|
(2)
|
|
- items in the course of collection from other
banks
|
|
6,165
|
|
-
|
|
4,956
|
|
-
|
|
- Hong Kong Government certificates of
indebtedness
|
|
40,086
|
|
-
|
|
38,380
|
|
-
|
|
- reverse repurchase agreements - non-trading
|
|
221,179
|
|
-
|
|
240,862
|
|
-
|
|
- financial investments
|
|
87,439
|
|
(111)
|
|
85,788
|
|
(53)
|
|
- prepayments, accrued income and other assets
|
2
|
135,680
|
|
(130)
|
|
91,092
|
|
(63)
|
|
Total gross carrying amount on-balance sheet
|
|
1,915,013
|
|
(14,003)
|
|
1,729,873
|
|
(8,866)
|
|
Loans and other credit-related commitments
|
|
661,611
|
|
(654)
|
|
600,029
|
|
(329)
|
|
- personal
|
|
233,797
|
|
(43)
|
|
223,314
|
|
(15)
|
|
- corporate and commercial
|
|
288,979
|
|
(576)
|
|
278,524
|
|
(307)
|
|
- financial
|
|
138,835
|
|
(35)
|
|
98,191
|
|
(7)
|
|
Financial guarantees
|
|
18,674
|
|
(125)
|
|
20,214
|
|
(48)
|
|
- personal
|
|
745
|
|
(1)
|
|
804
|
|
(1)
|
|
- corporate and commercial
|
|
13,623
|
|
(115)
|
|
14,804
|
|
(44)
|
|
- financial
|
|
4,306
|
|
(9)
|
|
4,606
|
|
(3)
|
|
Total nominal amount off-balance sheet
|
3
|
680,285
|
|
(779)
|
|
620,243
|
|
(377)
|
|
|
|
2,595,298
|
|
(14,782)
|
|
2,350,116
|
|
(9,243)
|
|
|
|
|
|
|
|
||||
|
|
Fair value
|
Memorandum allowance for ECL4
|
Fair value
|
Memorandum
allowance
for
ECL4
|
||||
|
|
$m
|
$m
|
$m
|
$m
|
||||
Debt instruments measured at fair value through other comprehensive
income ('FVOCI')
|
|
385,878
|
|
(150)
|
|
355,664
|
|
(166)
|
|
Summary
of credit risk (excluding debt instruments measured at FVOCI) by
stage distribution and ECL coverage by industry sector
at
30 September 2020
|
||||||||||||||||||||||||||||||
|
Gross carrying/nominal amount1
|
|
Allowance for ECL
|
|
ECL coverage %
|
|
||||||||||||||||||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
|||||||||||||||
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
%
|
%
|
%
|
%
|
%
|
|||||||||||||||
Loans and advances to customers at amortised cost
|
878,558
|
|
157,804
|
|
18,391
|
|
289
|
|
1,055,042
|
|
(2,020)
|
|
(4,607)
|
|
(6,962)
|
|
(113)
|
|
(13,702)
|
|
0.2
|
|
2.9
|
|
37.9
|
|
39.1
|
|
1.3
|
|
- personal
|
418,670
|
|
28,005
|
|
5,426
|
|
-
|
|
452,101
|
|
(906)
|
|
(2,179)
|
|
(1,455)
|
|
-
|
|
(4,540)
|
|
0.2
|
|
7.8
|
|
26.8
|
|
-
|
|
1.0
|
|
-
corporate and commercial
|
401,032
|
|
119,269
|
|
12,253
|
|
288
|
|
532,842
|
|
(1,057)
|
|
(2,293)
|
|
(5,344)
|
|
(112)
|
|
(8,806)
|
|
0.3
|
|
1.9
|
|
43.6
|
|
38.9
|
|
1.7
|
|
-
non-bank financial institutions
|
58,856
|
|
10,530
|
|
712
|
|
1
|
|
70,099
|
|
(57)
|
|
(135)
|
|
(163)
|
|
(1)
|
|
(356)
|
|
0.1
|
|
1.3
|
|
22.9
|
|
100.0
|
|
0.5
|
|
Loans and advances to banks at amortised cost
|
81,277
|
|
2,627
|
|
-
|
|
-
|
|
83,904
|
|
(37)
|
|
(13)
|
|
-
|
|
-
|
|
(50)
|
|
-
|
|
0.5
|
|
-
|
|
-
|
|
0.1
|
|
Other financial assets measured at amortised cost
|
765,993
|
|
9,818
|
|
254
|
|
2
|
|
776,067
|
|
(105)
|
|
(51)
|
|
(95)
|
|
-
|
|
(251)
|
|
-
|
|
0.5
|
|
37.4
|
|
-
|
|
-
|
|
Loan and other credit-related commitments
|
606,231
|
|
54,185
|
|
1,193
|
|
2
|
|
661,611
|
|
(242)
|
|
(324)
|
|
(88)
|
|
-
|
|
(654)
|
|
-
|
|
0.6
|
|
7.4
|
|
-
|
|
0.1
|
|
- personal
|
230,909
|
|
2,634
|
|
254
|
|
-
|
|
233,797
|
|
(40)
|
|
(3)
|
|
-
|
|
-
|
|
(43)
|
|
-
|
|
0.1
|
|
-
|
|
-
|
|
-
|
|
-
corporate and commercial
|
241,445
|
|
46,595
|
|
937
|
|
2
|
|
288,979
|
|
(182)
|
|
(306)
|
|
(88)
|
|
-
|
|
(576)
|
|
0.1
|
|
0.7
|
|
9.4
|
|
-
|
|
0.2
|
|
- financial
|
133,877
|
|
4,956
|
|
2
|
|
-
|
|
138,835
|
|
(20)
|
|
(15)
|
|
-
|
|
-
|
|
(35)
|
|
-
|
|
0.3
|
|
-
|
|
-
|
|
-
|
|
Financial guarantees
|
13,471
|
|
4,926
|
|
276
|
|
1
|
|
18,674
|
|
(20)
|
|
(64)
|
|
(41)
|
|
-
|
|
(125)
|
|
0.1
|
|
1.3
|
|
14.9
|
|
-
|
|
0.7
|
|
- personal
|
732
|
|
12
|
|
1
|
|
-
|
|
745
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
8.3
|
|
-
|
|
-
|
|
0.1
|
|
-
corporate and commercial
|
9,288
|
|
4,060
|
|
274
|
|
1
|
|
13,623
|
|
(18)
|
|
(57)
|
|
(40)
|
|
-
|
|
(115)
|
|
0.2
|
|
1.4
|
|
14.6
|
|
-
|
|
0.8
|
|
- financial
|
3,451
|
|
854
|
|
1
|
|
-
|
|
4,306
|
|
(2)
|
|
(6)
|
|
(1)
|
|
-
|
|
(9)
|
|
0.1
|
|
0.7
|
|
100.0
|
|
-
|
|
0.2
|
|
At 30 Sep 2020
|
2,345,530
|
|
229,360
|
|
20,114
|
|
294
|
|
2,595,298
|
|
(2,424)
|
|
(5,059)
|
|
(7,186)
|
|
(113)
|
|
(14,782)
|
|
0.1
|
|
2.2
|
|
35.7
|
|
38.4
|
|
0.6
|
|
Stage
2 days past due analysis at 30 September 2020
|
||||||||||||||||||
|
Gross carrying/nominal amount1
|
Allowance for ECL
|
ECL coverage %
|
|||||||||||||||
|
|
Of which:
|
Of which:
|
|
Of which:
|
Of which:
|
|
Of which:
|
Of which:
|
|||||||||
|
Stage 2
|
1 to 29
DPD3,4
|
30 and > DPD3,4
|
Stage 2
|
1 to 29
DPD3,4
|
30 and > DPD3,4
|
Stage 2
|
1 to 29
DPD3,4
|
30 and > DPD3,4
|
|||||||||
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
%
|
%
|
%
|
|||||||||
Loans and advances to customers at amortised cost
|
157,804
|
|
2,312
|
|
1,740
|
|
(4,607)
|
|
(280)
|
|
(286)
|
|
2.9
|
|
12.1
|
|
16.4
|
|
- personal
|
28,005
|
|
1,540
|
|
1,211
|
|
(2,179)
|
|
(236)
|
|
(254)
|
|
7.8
|
|
15.3
|
|
21.0
|
|
- corporate and commercial
|
119,269
|
|
743
|
|
432
|
|
(2,293)
|
|
(44)
|
|
(32)
|
|
1.9
|
|
5.9
|
|
7.4
|
|
- non-bank financial institutions
|
10,530
|
|
29
|
|
97
|
|
(135)
|
|
-
|
|
-
|
|
1.3
|
|
-
|
|
-
|
|
Loans and advances to banks at amortised cost
|
2,627
|
|
-
|
|
-
|
|
(13)
|
|
-
|
|
-
|
|
0.5
|
|
-
|
|
-
|
|
Other financial assets measured at amortised cost
|
9,818
|
|
-
|
|
8
|
|
(51)
|
|
-
|
|
-
|
|
0.5
|
|
-
|
|
-
|
|
Summary
of credit risk (excluding debt instruments measured at FVOCI) by
stage distribution and ECL coverage by industry sector
at
31 December 2019
|
||||||||||||||||||||||||||||||
|
Gross
carrying/nominal amount1
|
|
Allowance for ECL
|
|
ECL coverage %
|
|
||||||||||||||||||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI2
|
Total
|
|||||||||||||||
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
%
|
%
|
%
|
%
|
%
|
|||||||||||||||
Loans and advances to customers at amortised cost
|
951,583
|
|
80,182
|
|
13,378
|
|
332
|
|
1,045,475
|
|
(1,297)
|
|
(2,284)
|
|
(5,052)
|
|
(99)
|
|
(8,732)
|
|
0.1
|
|
2.8
|
|
37.8
|
|
29.8
|
|
0.8
|
|
- personal
|
413,669
|
|
15,751
|
|
4,851
|
|
-
|
|
434,271
|
|
(583)
|
|
(1,336)
|
|
(1,215)
|
|
-
|
|
(3,134)
|
|
0.1
|
|
8.5
|
|
25.0
|
|
-
|
|
0.7
|
|
-
corporate and commercial
|
472,253
|
|
59,599
|
|
8,315
|
|
332
|
|
540,499
|
|
(672)
|
|
(920)
|
|
(3,747)
|
|
(99)
|
|
(5,438)
|
|
0.1
|
|
1.5
|
|
45.1
|
|
29.8
|
|
1.0
|
|
-
non-bank financial institutions
|
65,661
|
|
4,832
|
|
212
|
|
-
|
|
70,705
|
|
(42)
|
|
(28)
|
|
(90)
|
|
-
|
|
(160)
|
|
0.1
|
|
0.6
|
|
42.5
|
|
-
|
|
0.2
|
|
Loans and advances to banks at amortised cost
|
67,769
|
|
1,450
|
|
-
|
|
-
|
|
69,219
|
|
(14)
|
|
(2)
|
|
-
|
|
-
|
|
(16)
|
|
-
|
|
0.1
|
|
-
|
|
-
|
|
-
|
|
Other financial assets measured at amortised cost
|
613,200
|
|
1,827
|
|
151
|
|
1
|
|
615,179
|
|
(38)
|
|
(38)
|
|
(42)
|
|
-
|
|
(118)
|
|
-
|
|
2.1
|
|
27.8
|
|
-
|
|
-
|
|
Loan and other credit-related commitments
|
577,631
|
|
21,618
|
|
771
|
|
9
|
|
600,029
|
|
(137)
|
|
(133)
|
|
(59)
|
|
-
|
|
(329)
|
|
-
|
|
0.6
|
|
7.7
|
|
-
|
|
0.1
|
|
- personal
|
221,490
|
|
1,630
|
|
194
|
|
-
|
|
223,314
|
|
(13)
|
|
(2)
|
|
-
|
|
-
|
|
(15)
|
|
-
|
|
0.1
|
|
-
|
|
-
|
|
-
|
|
-
corporate and commercial
|
259,138
|
|
18,804
|
|
573
|
|
9
|
|
278,524
|
|
(118)
|
|
(130)
|
|
(59)
|
|
-
|
|
(307)
|
|
-
|
|
0.7
|
|
10.3
|
|
-
|
|
0.1
|
|
- financial
|
97,003
|
|
1,184
|
|
4
|
|
-
|
|
98,191
|
|
(6)
|
|
(1)
|
|
-
|
|
-
|
|
(7)
|
|
-
|
|
0.1
|
|
-
|
|
-
|
|
-
|
|
Financial guarantees
|
17,684
|
|
2,340
|
|
186
|
|
4
|
|
20,214
|
|
(16)
|
|
(22)
|
|
(10)
|
|
-
|
|
(48)
|
|
0.1
|
|
0.9
|
|
5.4
|
|
-
|
|
0.2
|
|
- personal
|
802
|
|
1
|
|
1
|
|
-
|
|
804
|
|
(1)
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
0.1
|
|
-
|
|
-
|
|
-
|
|
0.1
|
|
-
corporate and commercial
|
12,540
|
|
2,076
|
|
184
|
|
4
|
|
14,804
|
|
(14)
|
|
(21)
|
|
(9)
|
|
-
|
|
(44)
|
|
0.1
|
|
1.0
|
|
4.9
|
|
-
|
|
0.3
|
|
- financial
|
4,342
|
|
263
|
|
1
|
|
-
|
|
4,606
|
|
(1)
|
|
(1)
|
|
(1)
|
|
-
|
|
(3)
|
|
-
|
|
0.4
|
|
100.0
|
|
-
|
|
0.1
|
|
At 31 Dec 2019
|
2,227,867
|
|
107,417
|
|
14,486
|
|
346
|
|
2,350,116
|
|
(1,502)
|
|
(2,479)
|
|
(5,163)
|
|
(99)
|
|
(9,243)
|
|
0.1
|
|
2.3
|
|
35.6
|
|
28.6
|
|
0.4
|
|
Stage
2 days past due analysis at 31 December 2019
|
||||||||||||||||||
|
Gross
carrying/nominal amount1
|
Allowance for ECL
|
ECL coverage %
|
|||||||||||||||
|
|
Of which:
|
Of which:
|
|
Of which:
|
Of which:
|
|
Of which:
|
Of which:
|
|||||||||
|
Stage 2
|
1 to 29
DPD3
|
30 and > DPD3
|
Stage 2
|
1 to 29
DPD3
|
30 and > DPD3
|
Stage 2
|
1 to 29
DPD3
|
30 and > DPD3
|
|||||||||
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
%
|
%
|
%
|
|||||||||
Loans and advances to customers at amortised cost
|
80,182
|
|
2,471
|
|
1,676
|
|
(2,284)
|
|
(208)
|
|
(247)
|
|
2.8
|
|
8.4
|
|
14.7
|
|
- personal
|
15,751
|
|
1,804
|
|
1,289
|
|
(1,336)
|
|
(178)
|
|
(217)
|
|
8.5
|
|
9.9
|
|
16.8
|
|
- corporate and commercial
|
59,599
|
|
657
|
|
385
|
|
(920)
|
|
(30)
|
|
(30)
|
|
1.5
|
|
4.6
|
|
7.8
|
|
- non-bank financial institutions
|
4,832
|
|
10
|
|
2
|
|
(28)
|
|
-
|
|
-
|
|
0.6
|
|
-
|
|
-
|
|
Loans and advances to banks at amortised cost
|
1,450
|
|
-
|
|
-
|
|
(2)
|
|
-
|
|
-
|
|
0.1
|
|
-
|
|
-
|
|
Other financial assets measured at amortised cost
|
1,827
|
|
14
|
|
30
|
|
(38)
|
|
-
|
|
-
|
|
2.1
|
|
-
|
|
-
|
|
Forecast
range of quarterly worst point of economic measures of key
markets
|
||||||||
|
Hong Kong
|
Mainland China
|
UK
|
US
|
||||
|
Central scenario five-year average
|
Worst point
|
Central scenario five-year average
|
Worst point
|
Central scenario five-year average
|
Worst point
|
Central scenario five-year average
|
Worst point
|
GDP growth rate (%)
|
2.6
|
(0.4) to (15.8)(4Q20) (1Q21)
|
5.6
|
3.7 to (6.1)(4Q21) (1Q21)
|
2.5
|
(3.9) to (16.7)(4Q20) (1Q21)
|
2.3
|
(3.2) to (12.6)(4Q20) (1Q21)
|
Unemployment rate (%)
|
4.0
|
5.7 to 8.0 (4Q20) (1Q21)
|
4.3
|
5.0 to 6.1 (1Q21) (1Q22)
|
5.6
|
7.3 to 10.5 (4Q20) (2Q21)
|
6.0
|
8.1 to 13.0 (4Q20) (4Q21)
|
House price growth (%)
|
1.7
|
(2.8) to (26.3)(4Q20) (1Q21)
|
4.4
|
4.2 to (25.8)(4Q20) (3Q21)
|
2.5
|
(0.2) to (24.7)(4Q20) (2Q21)
|
3.8
|
3.4 to (15.6)(1Q21) (2Q21)
|
Management judgemental adjustments to
ECL1
|
||||||
|
Retail
|
Wholesale
|
Total
|
|||
|
$bn
|
$bn
|
$bn
|
|||
Low-risk counterparties (banks, sovereigns and government
entities)
|
(0.2)
|
|
(0.9)
|
|
(1.1)
|
|
Corporate lending adjustments
|
-
|
|
(0.9)
|
|
(0.9)
|
|
Retail lending adjustments
|
0.3
|
|
-
|
|
0.3
|
|
Retail model default suppression adjustment
|
1.5
|
|
|
1.5
|
|
|
Total
|
1.6
|
|
(1.8)
|
|
(0.2)
|
|
|
Retail1,2
|
Wholesale1,3
|
||
Total Group ECL
|
$bn
|
$bn
|
||
Reported ECL
|
4.2
|
|
4.3
|
|
Scenarios
|
|
|
||
100% consensus Central scenario
|
(0.2)
|
|
(0.7)
|
|
100%
consensus Downside scenario4
|
0.5
|
|
1.4
|
|
100% alternative Downside scenario
|
1.9
|
|
6.7
|
|
Total
personal lending for loans and advances to customers by stage
distribution
|
||||||||||||||||
|
Gross carrying amount
|
Allowance for ECL
|
||||||||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
||||||||
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
||||||||
By portfolio
|
|
|
|
|
|
|
|
|
||||||||
First lien residential mortgages
|
314,755
|
|
15,595
|
|
3,255
|
|
333,605
|
|
(118)
|
|
(253)
|
|
(414)
|
|
(785)
|
|
- of which:interest only (including offset)
|
29,363
|
|
1,563
|
|
350
|
|
31,276
|
|
(11)
|
|
(20)
|
|
(81)
|
|
(112)
|
|
affordability (including US adjustable rate mortgages)
|
12,336
|
|
2,872
|
|
635
|
|
15,843
|
|
(12)
|
|
(9)
|
|
(4)
|
|
(25)
|
|
Other personal lending
|
103,915
|
|
12,410
|
|
2,171
|
|
118,496
|
|
(788)
|
|
(1,926)
|
|
(1,041)
|
|
(3,755)
|
|
- other
|
85,337
|
|
7,128
|
|
1,417
|
|
93,882
|
|
(366)
|
|
(786)
|
|
(657)
|
|
(1,809)
|
|
- credit cards
|
16,494
|
|
5,139
|
|
690
|
|
22,323
|
|
(408)
|
|
(1,122)
|
|
(367)
|
|
(1,897)
|
|
- second lien residential mortgages
|
616
|
|
112
|
|
53
|
|
781
|
|
(2)
|
|
(9)
|
|
(10)
|
|
(21)
|
|
- motor vehicle finance
|
1,468
|
|
31
|
|
11
|
|
1,510
|
|
(12)
|
|
(9)
|
|
(7)
|
|
(28)
|
|
At 30 Sep 2020
|
418,670
|
|
28,005
|
|
5,426
|
|
452,101
|
|
(906)
|
|
(2,179)
|
|
(1,455)
|
|
(4,540)
|
|
By geography
|
|
|
|
|
|
|
|
|
||||||||
Europe
|
189,065
|
|
8,848
|
|
2,576
|
|
200,489
|
|
(277)
|
|
(1,130)
|
|
(808)
|
|
(2,215)
|
|
- of which: UK
|
153,112
|
|
7,603
|
|
1,760
|
|
162,475
|
|
(257)
|
|
(1,032)
|
|
(537)
|
|
(1,826)
|
|
Asia
|
181,399
|
|
11,620
|
|
867
|
|
193,886
|
|
(284)
|
|
(412)
|
|
(222)
|
|
(918)
|
|
- of which: Hong Kong
|
127,785
|
|
5,363
|
|
210
|
|
133,358
|
|
(73)
|
|
(266)
|
|
(58)
|
|
(397)
|
|
MENA
|
4,998
|
|
418
|
|
272
|
|
5,688
|
|
(53)
|
|
(115)
|
|
(173)
|
|
(341)
|
|
North America
|
38,059
|
|
5,594
|
|
1,456
|
|
45,109
|
|
(103)
|
|
(181)
|
|
(139)
|
|
(423)
|
|
Latin America
|
5,149
|
|
1,525
|
|
255
|
|
6,929
|
|
(189)
|
|
(341)
|
|
(113)
|
|
(643)
|
|
At 30 Sep 2020
|
418,670
|
|
28,005
|
|
5,426
|
|
452,101
|
|
(906)
|
|
(2,179)
|
|
(1,455)
|
|
(4,540)
|
|
By portfolio
|
|
|
|
|
|
|
|
|
||||||||
First lien residential mortgages
|
312,031
|
|
7,077
|
|
3,070
|
|
322,178
|
|
(39)
|
|
(68)
|
|
(422)
|
|
(529)
|
|
- of which:interest only (including offset)
|
31,201
|
|
1,602
|
|
376
|
|
33,179
|
|
(6)
|
|
(15)
|
|
(91)
|
|
(112)
|
|
affordability (including US adjustable rate mortgages)
|
14,222
|
|
796
|
|
514
|
|
15,532
|
|
(3)
|
|
(3)
|
|
(3)
|
|
(9)
|
|
Other personal lending
|
101,638
|
|
8,674
|
|
1,781
|
|
112,093
|
|
(544)
|
|
(1,268)
|
|
(793)
|
|
(2,605)
|
|
- other
|
77,031
|
|
4,575
|
|
1,193
|
|
82,799
|
|
(229)
|
|
(451)
|
|
(491)
|
|
(1,171)
|
|
- credit cards
|
22,285
|
|
3,959
|
|
524
|
|
26,768
|
|
(310)
|
|
(801)
|
|
(284)
|
|
(1,395)
|
|
- second lien residential mortgages
|
750
|
|
84
|
|
55
|
|
889
|
|
(1)
|
|
(6)
|
|
(10)
|
|
(17)
|
|
- motor vehicle finance
|
1,572
|
|
56
|
|
9
|
|
1,637
|
|
(4)
|
|
(10)
|
|
(8)
|
|
(22)
|
|
At 31 Dec 2019
|
413,669
|
|
15,751
|
|
4,851
|
|
434,271
|
|
(583)
|
|
(1,336)
|
|
(1,215)
|
|
(3,134)
|
|
By geography
|
|
|
|
|
|
|
|
|
||||||||
Europe
|
186,561
|
|
6,854
|
|
2,335
|
|
195,750
|
|
(112)
|
|
(538)
|
|
(578)
|
|
(1,228)
|
|
- of which: UK
|
153,313
|
|
5,455
|
|
1,612
|
|
160,380
|
|
(104)
|
|
(513)
|
|
(370)
|
|
(987)
|
|
Asia
|
173,523
|
|
5,855
|
|
717
|
|
180,095
|
|
(223)
|
|
(339)
|
|
(170)
|
|
(732)
|
|
- of which: Hong Kong
|
117,013
|
|
2,751
|
|
189
|
|
119,953
|
|
(90)
|
|
(220)
|
|
(44)
|
|
(354)
|
|
MENA
|
5,671
|
|
247
|
|
299
|
|
6,217
|
|
(50)
|
|
(58)
|
|
(189)
|
|
(297)
|
|
North America
|
41,148
|
|
1,930
|
|
1,238
|
|
44,316
|
|
(56)
|
|
(119)
|
|
(141)
|
|
(316)
|
|
Latin America
|
6,766
|
|
865
|
|
262
|
|
7,893
|
|
(142)
|
|
(282)
|
|
(137)
|
|
(561)
|
|
At 31 Dec 2019
|
413,669
|
|
15,751
|
|
4,851
|
|
434,271
|
|
(583)
|
|
(1,336)
|
|
(1,215)
|
|
(3,134)
|
|
Total
wholesale lending for loans and advances to banks and customers at
amortised cost
|
||||||||||||||||||||
|
Gross carrying amount
|
Allowance for ECL
|
||||||||||||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI
|
Total
|
||||||||||
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
||||||||||
Corporate and commercial
|
401,032
|
|
119,269
|
|
12,253
|
|
288
|
|
532,842
|
|
(1,057)
|
|
(2,293)
|
|
(5,344)
|
|
(112)
|
|
(8,806)
|
|
- agriculture, forestry and fishing
|
5,915
|
|
739
|
|
315
|
|
2
|
|
6,971
|
|
(15)
|
|
(24)
|
|
(148)
|
|
(1)
|
|
(188)
|
|
- mining and quarrying
|
8,659
|
|
3,735
|
|
1,306
|
|
12
|
|
13,712
|
|
(46)
|
|
(106)
|
|
(432)
|
|
(12)
|
|
(596)
|
|
- manufacture
|
71,291
|
|
23,223
|
|
1,620
|
|
80
|
|
96,214
|
|
(158)
|
|
(332)
|
|
(761)
|
|
(39)
|
|
(1,290)
|
|
-
electricity, gas, steam and air-conditioning supply
|
12,426
|
|
2,294
|
|
116
|
|
-
|
|
14,836
|
|
(33)
|
|
(32)
|
|
(17)
|
|
-
|
|
(82)
|
|
-
water supply, sewerage, waste management and
remediation
|
2,300
|
|
699
|
|
43
|
|
-
|
|
3,042
|
|
(9)
|
|
(15)
|
|
(22)
|
|
-
|
|
(46)
|
|
-
construction
|
9,358
|
|
5,153
|
|
693
|
|
33
|
|
15,237
|
|
(29)
|
|
(109)
|
|
(390)
|
|
(32)
|
|
(560)
|
|
-
wholesale and retail trade, repair of motor vehicles and
motorcycles
|
66,500
|
|
21,778
|
|
3,119
|
|
12
|
|
91,409
|
|
(144)
|
|
(271)
|
|
(1,856)
|
|
(3)
|
|
(2,274)
|
|
-
transportation and storage
|
20,303
|
|
7,209
|
|
823
|
|
12
|
|
28,347
|
|
(80)
|
|
(172)
|
|
(222)
|
|
-
|
|
(474)
|
|
-
accommodation and food
|
13,899
|
|
11,321
|
|
473
|
|
1
|
|
25,694
|
|
(60)
|
|
(232)
|
|
(111)
|
|
(1)
|
|
(404)
|
|
-
publishing, audiovisual and broadcasting
|
17,041
|
|
3,437
|
|
161
|
|
31
|
|
20,670
|
|
(47)
|
|
(99)
|
|
(33)
|
|
(5)
|
|
(184)
|
|
-
real estate
|
109,113
|
|
17,510
|
|
1,367
|
|
1
|
|
127,991
|
|
(183)
|
|
(322)
|
|
(525)
|
|
-
|
|
(1,030)
|
|
-
professional, scientific and technical activities
|
16,317
|
|
8,206
|
|
501
|
|
31
|
|
25,055
|
|
(51)
|
|
(107)
|
|
(157)
|
|
(7)
|
|
(322)
|
|
-
administrative and support services
|
18,390
|
|
7,746
|
|
813
|
|
73
|
|
27,022
|
|
(49)
|
|
(164)
|
|
(244)
|
|
(12)
|
|
(469)
|
|
-
public administration and defence, compulsory social
security
|
1,890
|
|
465
|
|
3
|
|
-
|
|
2,358
|
|
(2)
|
|
(10)
|
|
(1)
|
|
-
|
|
(13)
|
|
-
education
|
1,530
|
|
552
|
|
37
|
|
-
|
|
2,119
|
|
(9)
|
|
(20)
|
|
(11)
|
|
-
|
|
(40)
|
|
-
health and care
|
4,772
|
|
1,268
|
|
254
|
|
-
|
|
6,294
|
|
(20)
|
|
(37)
|
|
(119)
|
|
-
|
|
(176)
|
|
-
arts, entertainment and recreation
|
1,368
|
|
1,182
|
|
182
|
|
-
|
|
2,732
|
|
(9)
|
|
(48)
|
|
(65)
|
|
-
|
|
(122)
|
|
-
other services
|
11,136
|
|
1,471
|
|
426
|
|
-
|
|
13,033
|
|
(107)
|
|
(175)
|
|
(229)
|
|
-
|
|
(511)
|
|
-
activities of households
|
625
|
|
153
|
|
-
|
|
-
|
|
778
|
|
-
|
|
(3)
|
|
-
|
|
-
|
|
(3)
|
|
-
extra-territorial organisations and bodies activities
|
7
|
|
-
|
|
-
|
|
-
|
|
7
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
- government
|
7,613
|
|
1,114
|
|
1
|
|
-
|
|
8,728
|
|
(6)
|
|
(2)
|
|
(1)
|
|
-
|
|
(9)
|
|
- asset-backed securities
|
579
|
|
14
|
|
-
|
|
-
|
|
593
|
|
-
|
|
(13)
|
|
-
|
|
-
|
|
(13)
|
|
Non-bank financial institutions
|
58,856
|
|
10,530
|
|
712
|
|
1
|
|
70,099
|
|
(57)
|
|
(135)
|
|
(163)
|
|
(1)
|
|
(356)
|
|
Loans and advances to banks
|
81,277
|
|
2,627
|
|
-
|
|
-
|
|
83,904
|
|
(37)
|
|
(13)
|
|
-
|
|
-
|
|
(50)
|
|
At 30 Sep 2020
|
541,165
|
|
132,426
|
|
12,965
|
|
289
|
|
686,845
|
|
(1,151)
|
|
(2,441)
|
|
(5,507)
|
|
(113)
|
|
(9,212)
|
|
By geography
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Europe
|
169,448
|
|
39,595
|
|
7,013
|
|
126
|
|
216,182
|
|
(553)
|
|
(1,209)
|
|
(2,044)
|
|
(53)
|
|
(3,859)
|
|
- of which: UK
|
116,881
|
|
28,386
|
|
5,104
|
|
78
|
|
150,449
|
|
(443)
|
|
(971)
|
|
(1,362)
|
|
(38)
|
|
(2,814)
|
|
Asia
|
289,156
|
|
58,792
|
|
2,729
|
|
116
|
|
350,793
|
|
(327)
|
|
(447)
|
|
(1,741)
|
|
(43)
|
|
(2,558)
|
|
- of which: Hong Kong
|
173,104
|
|
35,238
|
|
990
|
|
47
|
|
209,379
|
|
(177)
|
|
(272)
|
|
(521)
|
|
(24)
|
|
(994)
|
|
MENA
|
21,929
|
|
10,176
|
|
1,879
|
|
17
|
|
34,001
|
|
(76)
|
|
(232)
|
|
(1,162)
|
|
(12)
|
|
(1,482)
|
|
North America
|
49,681
|
|
18,790
|
|
935
|
|
-
|
|
69,406
|
|
(89)
|
|
(315)
|
|
(332)
|
|
-
|
|
(736)
|
|
Latin America
|
10,951
|
|
5,073
|
|
409
|
|
30
|
|
16,463
|
|
(106)
|
|
(238)
|
|
(228)
|
|
(5)
|
|
(577)
|
|
At 30 Sep 2020
|
541,165
|
|
132,426
|
|
12,965
|
|
289
|
|
686,845
|
|
(1,151)
|
|
(2,441)
|
|
(5,507)
|
|
(113)
|
|
(9,212)
|
|
Total
wholesale lending for loans and advances to banks and customers at
amortised cost (continued)
|
||||||||||||||||||||
|
Gross carrying amount
|
Allowance for ECL
|
||||||||||||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI
|
Total
|
Stage 1
|
Stage 2
|
Stage 3
|
POCI
|
Total
|
||||||||||
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
||||||||||
Corporate and commercial
|
472,253
|
|
59,599
|
|
8,315
|
|
332
|
|
540,499
|
|
(672)
|
|
(920)
|
|
(3,747)
|
|
(99)
|
|
(5,438)
|
|
- agriculture, forestry and fishing
|
5,416
|
|
1,000
|
|
278
|
|
2
|
|
6,696
|
|
(13)
|
|
(29)
|
|
(139)
|
|
(1)
|
|
(182)
|
|
- mining and quarrying
|
9,923
|
|
4,189
|
|
311
|
|
12
|
|
14,435
|
|
(22)
|
|
(70)
|
|
(122)
|
|
(12)
|
|
(226)
|
|
- manufacture
|
88,138
|
|
14,525
|
|
1,581
|
|
136
|
|
104,380
|
|
(143)
|
|
(211)
|
|
(806)
|
|
(50)
|
|
(1,210)
|
|
-
electricity, gas, steam and air-conditioningsupply
|
13,479
|
|
1,386
|
|
175
|
|
-
|
|
15,040
|
|
(14)
|
|
(41)
|
|
(25)
|
|
-
|
|
(80)
|
|
-
water supply, sewerage, waste management and
remediation
|
2,963
|
|
508
|
|
30
|
|
-
|
|
3,501
|
|
(6)
|
|
(4)
|
|
(18)
|
|
-
|
|
(28)
|
|
- construction
|
10,520
|
|
3,883
|
|
852
|
|
32
|
|
15,287
|
|
(16)
|
|
(49)
|
|
(467)
|
|
(32)
|
|
(564)
|
|
-
wholesale and retail trade, repair of motor vehicles and
motorcycles
|
83,151
|
|
9,897
|
|
1,625
|
|
8
|
|
94,681
|
|
(111)
|
|
(137)
|
|
(934)
|
|
(2)
|
|
(1,184)
|
|
- transportation and storage
|
22,604
|
|
2,359
|
|
588
|
|
29
|
|
25,580
|
|
(42)
|
|
(37)
|
|
(158)
|
|
-
|
|
(237)
|
|
- accommodation and food
|
20,109
|
|
4,284
|
|
262
|
|
1
|
|
24,656
|
|
(37)
|
|
(46)
|
|
(62)
|
|
(1)
|
|
(146)
|
|
-
publishing, audiovisual and broadcasting
|
18,103
|
|
1,706
|
|
141
|
|
21
|
|
19,971
|
|
(30)
|
|
(23)
|
|
(33)
|
|
(1)
|
|
(87)
|
|
- real estate
|
122,972
|
|
6,450
|
|
1,329
|
|
1
|
|
130,752
|
|
(108)
|
|
(97)
|
|
(475)
|
|
-
|
|
(680)
|
|
-
professional, scientific and technical activities
|
21,085
|
|
2,687
|
|
350
|
|
-
|
|
24,122
|
|
(31)
|
|
(33)
|
|
(145)
|
|
-
|
|
(209)
|
|
-
administrative and support services
|
21,370
|
|
3,817
|
|
438
|
|
89
|
|
25,714
|
|
(33)
|
|
(58)
|
|
(179)
|
|
-
|
|
(270)
|
|
-
public administration and defence, compulsory social
security
|
1,889
|
|
488
|
|
-
|
|
-
|
|
2,377
|
|
(1)
|
|
(7)
|
|
-
|
|
-
|
|
(8)
|
|
- education
|
1,700
|
|
184
|
|
16
|
|
-
|
|
1,900
|
|
(7)
|
|
(5)
|
|
(6)
|
|
-
|
|
(18)
|
|
- health and care
|
3,543
|
|
811
|
|
111
|
|
-
|
|
4,465
|
|
(9)
|
|
(20)
|
|
(28)
|
|
-
|
|
(57)
|
|
-
arts, entertainment and recreation
|
2,537
|
|
257
|
|
30
|
|
-
|
|
2,824
|
|
(6)
|
|
(8)
|
|
(11)
|
|
-
|
|
(25)
|
|
- other services
|
13,143
|
|
941
|
|
191
|
|
1
|
|
14,276
|
|
(35)
|
|
(31)
|
|
(133)
|
|
-
|
|
(199)
|
|
- activities of households
|
725
|
|
66
|
|
-
|
|
-
|
|
791
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
extra-territorial organisations and bodies activities
|
2
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
- government
|
8,159
|
|
147
|
|
7
|
|
-
|
|
8,313
|
|
(6)
|
|
(2)
|
|
(6)
|
|
-
|
|
(14)
|
|
- asset-backed securities
|
722
|
|
14
|
|
-
|
|
-
|
|
736
|
|
(2)
|
|
(12)
|
|
-
|
|
-
|
|
(14)
|
|
Non-bank financial institutions
|
65,661
|
|
4,832
|
|
212
|
|
-
|
|
70,705
|
|
(42)
|
|
(28)
|
|
(90)
|
|
-
|
|
(160)
|
|
Loans and advances to banks
|
67,769
|
|
1,450
|
|
-
|
|
-
|
|
69,219
|
|
(14)
|
|
(2)
|
|
-
|
|
-
|
|
(16)
|
|
At 31 Dec 2019
|
605,683
|
|
65,881
|
|
8,527
|
|
332
|
|
680,423
|
|
(728)
|
|
(950)
|
|
(3,837)
|
|
(99)
|
|
(5,614)
|
|
By geography
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Europe
|
190,528
|
|
20,276
|
|
4,671
|
|
129
|
|
215,604
|
|
(318)
|
|
(458)
|
|
(1,578)
|
|
(45)
|
|
(2,399)
|
|
- of which: UK
|
131,007
|
|
16,253
|
|
3,343
|
|
79
|
|
150,682
|
|
(252)
|
|
(385)
|
|
(989)
|
|
(32)
|
|
(1,658)
|
|
Asia
|
308,305
|
|
32,287
|
|
1,419
|
|
148
|
|
342,159
|
|
(228)
|
|
(253)
|
|
(986)
|
|
(38)
|
|
(1,505)
|
|
- of which: Hong Kong
|
182,501
|
|
23,735
|
|
673
|
|
48
|
|
206,957
|
|
(118)
|
|
(172)
|
|
(475)
|
|
(28)
|
|
(793)
|
|
MENA
|
25,470
|
|
3,314
|
|
1,686
|
|
18
|
|
30,488
|
|
(55)
|
|
(85)
|
|
(946)
|
|
(12)
|
|
(1,098)
|
|
North America
|
64,501
|
|
7,495
|
|
458
|
|
-
|
|
72,454
|
|
(45)
|
|
(96)
|
|
(141)
|
|
-
|
|
(282)
|
|
Latin America
|
16,879
|
|
2,509
|
|
293
|
|
37
|
|
19,718
|
|
(82)
|
|
(58)
|
|
(186)
|
|
(4)
|
|
(330)
|
|
At 31 Dec 2019
|
605,683
|
|
65,881
|
|
8,527
|
|
332
|
|
680,423
|
|
(728)
|
|
(950)
|
|
(3,837)
|
|
(99)
|
|
(5,614)
|
|
Personal
lending
|
||||||
Extant at 30 September 2020
|
|
UK
|
Hong Kong
|
US
|
Other major
markets1,2,3
|
Total
|
Market-wide schemes
|
|
|
|
|
|
|
Number of accounts in mortgage customer relief
|
000s
|
17
|
-
|
-
|
43
|
60
|
Drawn loan value of accounts in mortgage customer
relief
|
$m
|
3,692
|
-
|
-
|
3,474
|
7,166
|
Number of accounts in other personal lending customer
relief
|
000s
|
24
|
-
|
-
|
92
|
116
|
Drawn loan value of accounts in other personal lending customer
relief
|
$m
|
303
|
-
|
-
|
2,032
|
2,335
|
HSBC-specific measures
|
|
|
|
|
|
|
Number of accounts in mortgage customer relief
|
000s
|
-
|
3
|
2
|
11
|
16
|
Drawn loan value of accounts in mortgage customer
relief
|
$m
|
17
|
1,259
|
1,016
|
2,035
|
4,327
|
Number of accounts in other personal lending customer
relief
|
000s
|
-
|
1
|
20
|
37
|
58
|
Drawn loan value of accounts in other personal lending customer
relief
|
$m
|
-
|
92
|
138
|
824
|
1,054
|
Total personal lending to major markets under market-wide schemes
and HSBC-specific measures
|
|
|
|
|
|
|
Number of accounts in mortgage customer relief
|
000s
|
17
|
3
|
2
|
54
|
76
|
Drawn loan value of accounts in mortgage customer
relief
|
$m
|
3,709
|
1,259
|
1,016
|
5,509
|
11,493
|
Number of accounts in other personal lending customer
relief
|
000s
|
24
|
1
|
20
|
129
|
174
|
Drawn loan value of accounts in other personal lending customer
relief
|
$m
|
303
|
92
|
138
|
2,856
|
3,389
|
Market-wide schemes and HSBC-specific measures - mortgage relief as
a proportion of total mortgages
|
%
|
2.6
|
1.4
|
5.5
|
7.4
|
3.5
|
Market-wide schemes and HSBC-specific measures - other personal
lending relief as a proportion of total other personal lending
loans and advances
|
%
|
1.6
|
0.2
|
6.2
|
5.7
|
3.0
|
|
|
|
|
|
|
|
Wholesale
lending
|
||||||
Extant at 30 September 2020
|
|
UK
|
Hong Kong
|
US
|
Other major
markets1
|
Total
|
Market-wide schemes
|
|
|
|
|
|
|
Number of customers under market-wide measures
|
000s
|
187
|
5
|
4
|
7
|
203
|
Drawn loan value of customers under market-wide
schemes
|
$m
|
10,265
|
21,457
|
1,186
|
7,246
|
40,154
|
HSBC-specific schemes
|
|
|
|
|
|
|
Number of customers under HSBC-specific measures
|
000s
|
5
|
-
|
-
|
10
|
15
|
Drawn loan value of customers under HSBC-specific
measures
|
$m
|
4,031
|
1,274
|
1,103
|
5,787
|
12,195
|
Total wholesale lending to major markets under market-wide schemes
and HSBC-specific measures
|
|
|
|
|
|
|
Number
of customers4
|
000s
|
192
|
5
|
4
|
17
|
218
|
Drawn loan value
|
$m
|
14,296
|
22,731
|
2,289
|
13,033
|
52,349
|
Market-wide schemes and HSBC-specific measures as a proportion of
total wholesale lending loans and advances
|
%
|
9.8
|
12.1
|
5.4
|
6.8
|
9.2
|
Capital
adequacy
|
|
|||
Capital
adequacy metrics
|
|
|||
|
At
|
|||
|
30 Sep
|
30 Jun
|
31 Dec
|
|
|
2020
|
2020
|
2019
|
|
Risk-weighted assets ('RWAs') ($bn)
|
|
|
||
Credit risk
|
692.7
|
686.7
|
676.6
|
|
Counterparty credit risk
|
41.6
|
43.1
|
44.1
|
|
Market risk
|
31.3
|
35.2
|
29.9
|
|
Operational risk
|
91.4
|
89.6
|
92.8
|
|
Total risk-weighted assets
|
857.0
|
854.6
|
843.4
|
|
Capital on a transitional basis ($bn)
|
|
|
||
Common equity tier 1 ('CET1') capital
|
133.4
|
128.4
|
124.0
|
|
Tier 1 capital
|
157.4
|
152.5
|
148.4
|
|
Total capital
|
181.8
|
177.2
|
172.2
|
|
Capital ratios on a transitional basis (%)
|
|
|
||
CET1
|
15.6
|
15.0
|
14.7
|
|
Tier 1
|
18.4
|
17.8
|
17.6
|
|
Total capital
|
21.2
|
20.7
|
20.4
|
|
Capital on an end point basis ($bn)
|
|
|
||
Common equity tier 1 ('CET1') capital
|
133.4
|
128.4
|
124.0
|
|
Tier 1 capital
|
154.3
|
149.4
|
144.8
|
|
Total capital
|
169.2
|
164.4
|
159.3
|
|
Capital ratios on an end point basis (%)
|
|
|
||
CET1
|
15.6
|
15.0
|
14.7
|
|
Tier 1
|
18.0
|
17.5
|
17.2
|
|
Total capital
|
19.7
|
19.2
|
18.9
|
|
Liquidity coverage ratio ('LCR')
|
|
|
||
Total high-quality liquid assets ($bn)
|
654.2
|
654.4
|
601.4
|
|
Total net cash outflow ($bn)
|
446.3
|
442.9
|
400.5
|
|
LCR ratio (%)
|
146.6
|
147.8
|
150.2
|
Leverage
|
Leverage ratio1
|
||||
|
|
|
At
|
|
|
|
|
30 Sep
|
30 Jun
|
|
|
|
2020
|
2020
|
Ref*
|
|
Footnotes
|
$bn
|
$bn
|
20
|
Tier 1
capital
|
|
154.3
|
149.4
|
21
|
Total
leverage ratio exposure
|
|
2,857.4
|
2,801.4
|
|
|
|
%
|
%
|
22
|
Leverage
ratio
|
|
5.4
|
5.3
|
EU-23
|
Choice
of transitional arrangements for the definition of the capital
measure
|
|
Fully phased-in
|
Fully phased-in
|
|
UK leverage ratio exposure - quarterly average
|
2
|
2,569.3
|
2,565.8
|
|
|
|
%
|
%
|
|
UK leverage ratio - quarterly average
|
2
|
6.0
|
5.7
|
|
UK leverage ratio - quarter end
|
2
|
6.1
|
5.9
|
Risk-weighted
assets
|
RWAs
by global business
|
||||||||||
|
WPB
|
CMB
|
GBM
|
CorporateCentre
|
Total
|
|||||
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
|||||
Credit risk
|
137.8
|
305.6
|
169.4
|
79.9
|
692.7
|
|||||
Counterparty credit risk
|
0.7
|
0.2
|
40.1
|
0.6
|
41.6
|
|||||
Market risk
|
1.3
|
0.7
|
26.5
|
2.8
|
31.3
|
|||||
Operational risk
|
33.4
|
25.9
|
31.1
|
1.0
|
91.4
|
|||||
At 30 Sep 2020
|
173.2
|
332.4
|
267.1
|
84.3
|
857.0
|
|||||
RWA
movement by global business by key driver
|
||||||||||
|
Credit risk, counterparty credit risk and operational
risk
|
|
|
|||||||
|
WPB
|
CMB
|
GBM
|
CorporateCentre
|
Market risk
|
Total RWAs
|
||||
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
$bn
|
||||
RWAs at 1 July 2020
|
160.6
|
330.2
|
247.9
|
80.7
|
35.2
|
854.6
|
||||
Asset size
|
8.9
|
(6.0)
|
(8.2)
|
(0.2)
|
(5.3)
|
(10.8)
|
||||
Asset quality
|
-
|
2.1
|
0.5
|
0.4
|
-
|
3.0
|
||||
Model updates
|
0.3
|
0.1
|
(0.1)
|
-
|
-
|
0.3
|
||||
Methodology and
policy
|
(0.5)
|
(1.8)
|
(3.5)
|
0.1
|
1.4
|
(4.3)
|
||||
Foreign exchange movements
|
2.6
|
7.1
|
4.0
|
0.5
|
-
|
14.2
|
||||
Total RWA movement
|
11.3
|
1.5
|
(7.3)
|
0.8
|
(3.9)
|
2.4
|
||||
RWAs at 30 Sep 2020
|
171.9
|
331.7
|
240.6
|
81.5
|
31.3
|
857.0
|
Summary
information - global businesses
|
Reconciliation
of reported results to adjusted results - global
businesses
|
|||||||||||
|
|
Nine months ended 30 Sep 2020
|
|||||||||
|
|
Wealth andPersonalBanking
|
CommercialBanking
|
GlobalBanking andMarkets
|
CorporateCentre
|
Total
|
|||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
|||||
Revenue
|
1
|
|
|
|
|
|
|||||
Reported
|
|
16,679
|
|
10,148
|
|
11,695
|
|
150
|
|
38,672
|
|
Significant items
|
|
13
|
|
17
|
|
97
|
|
(257)
|
|
(130)
|
|
-
customer redress programmes
|
|
5
|
|
17
|
|
-
|
|
-
|
|
22
|
|
-
disposals, acquisitions and investment in new
businesses
|
|
8
|
|
-
|
|
-
|
|
-
|
|
8
|
|
-
fair value movements on financial instruments
|
2
|
-
|
|
-
|
|
(62)
|
|
(248)
|
|
(310)
|
|
- restructuring and other related costs
|
3
|
-
|
|
-
|
|
159
|
|
(9)
|
|
150
|
|
Adjusted
|
|
16,692
|
|
10,165
|
|
11,792
|
|
(107)
|
|
38,542
|
|
ECL
|
|
|
|
|
|
|
|||||
Reported
|
|
(2,545)
|
|
(3,880)
|
|
(1,218)
|
|
-
|
|
(7,643)
|
|
Adjusted
|
|
(2,545)
|
|
(3,880)
|
|
(1,218)
|
|
-
|
|
(7,643)
|
|
Operating expenses
|
|
|
|
|
|
|
|||||
Reported
|
|
(11,440)
|
|
(4,984)
|
|
(7,565)
|
|
(579)
|
|
(24,568)
|
|
Significant items
|
|
412
|
|
59
|
|
771
|
|
973
|
|
2,215
|
|
- customer redress programmes
|
|
45
|
|
1
|
|
-
|
|
7
|
|
53
|
|
- impairment of goodwill and other intangibles
|
|
309
|
|
44
|
|
578
|
|
151
|
|
1,082
|
|
- restructuring and other related costs
|
4
|
58
|
|
14
|
|
191
|
|
809
|
|
1,072
|
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
-
|
|
-
|
|
2
|
|
6
|
|
8
|
|
Adjusted
|
|
(11,028)
|
|
(4,925)
|
|
(6,794)
|
|
394
|
|
(22,353)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|||||
Reported
|
|
2
|
|
-
|
|
-
|
|
929
|
|
931
|
|
Significant items
|
|
-
|
|
-
|
|
-
|
|
462
|
|
462
|
|
- impairment of goodwill
|
5
|
-
|
|
-
|
|
-
|
|
462
|
|
462
|
|
Adjusted
|
|
2
|
|
-
|
|
-
|
|
1,391
|
|
1,393
|
|
Profit before tax
|
|
|
|
|
|
|
|||||
Reported
|
|
2,696
|
|
1,284
|
|
2,912
|
|
500
|
|
7,392
|
|
Significant items
|
|
425
|
|
76
|
|
868
|
|
1,178
|
|
2,547
|
|
- revenue
|
|
13
|
|
17
|
|
97
|
|
(257)
|
|
(130)
|
|
- operating expenses
|
|
412
|
|
59
|
|
771
|
|
973
|
|
2,215
|
|
- share of profit in associates and joint
ventures
|
|
-
|
|
-
|
|
-
|
|
462
|
|
462
|
|
Adjusted
|
|
3,121
|
|
1,360
|
|
3,780
|
|
1,678
|
|
9,939
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|||||
Reported
|
|
459,516
|
|
343,702
|
|
236,902
|
|
1,220
|
|
1,041,340
|
|
Adjusted
|
|
459,516
|
|
343,702
|
|
236,902
|
|
1,220
|
|
1,041,340
|
|
Customer accounts
|
|
|
|
|
|
|
|||||
Reported
|
|
793,612
|
|
431,021
|
|
343,365
|
|
716
|
|
1,568,714
|
|
Adjusted
|
|
793,612
|
|
431,021
|
|
343,365
|
|
716
|
|
1,568,714
|
|
Reconciliation
of reported results to adjusted results - global businesses
(continued)
|
|||||||||||
|
|
Nine
months ended 30 Sep 20191
|
|||||||||
|
|
Wealth andPersonalBanking
|
CommercialBanking
|
GlobalBanking andMarkets
|
CorporateCentre
|
Total
|
|||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
|||||
Revenue
|
2
|
|
|
|
|
|
|||||
Reported
|
|
19,238
|
|
11,576
|
|
11,223
|
|
690
|
|
42,727
|
|
Currency translation
|
|
(272)
|
|
(143)
|
|
(156)
|
|
(34)
|
|
(605)
|
|
Significant items
|
|
126
|
|
13
|
|
37
|
|
(1,136)
|
|
(960)
|
|
-
customer redress programmes
|
|
108
|
|
9
|
|
-
|
|
1
|
|
118
|
|
-
disposal, acquisitions and investment in new
businesses
|
|
4
|
|
-
|
|
-
|
|
(827)
|
|
(823)
|
|
- fair value movements on financial instruments
|
3
|
7
|
|
4
|
|
40
|
|
(311)
|
|
(260)
|
|
- currency translation on significant items
|
|
7
|
|
-
|
|
(3)
|
|
1
|
|
5
|
|
Adjusted
|
|
19,092
|
|
11,446
|
|
11,104
|
|
(480)
|
|
41,162
|
|
ECL
|
|
|
|
|
|
|
|||||
Reported
|
|
(1,012)
|
|
(906)
|
|
(124)
|
|
19
|
|
(2,023)
|
|
Currency translation
|
|
58
|
|
27
|
|
7
|
|
-
|
|
92
|
|
Adjusted
|
|
(954)
|
|
(879)
|
|
(117)
|
|
19
|
|
(1,931)
|
|
Operating expenses
|
|
|
|
|
|
|
|||||
Reported
|
|
(12,669)
|
|
(5,139)
|
|
(7,267)
|
|
(221)
|
|
(25,296)
|
|
Currency translation
|
|
198
|
|
67
|
|
73
|
|
38
|
|
376
|
|
Significant items
|
|
1,083
|
|
45
|
|
167
|
|
283
|
|
1,578
|
|
-
costs of structural reform
|
4
|
-
|
|
4
|
|
36
|
|
86
|
|
126
|
|
-
customer redress programmes
|
|
1,084
|
|
15
|
|
-
|
|
(1)
|
|
1,098
|
|
-
restructuring and other related costs
|
|
70
|
|
27
|
|
131
|
|
199
|
|
427
|
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
(66)
|
|
-
|
|
-
|
|
-
|
|
(66)
|
|
-
currency translation on significant items
|
|
(5)
|
|
(1)
|
|
-
|
|
(1)
|
|
(7)
|
|
Adjusted
|
|
(11,388)
|
|
(5,027)
|
|
(7,027)
|
|
100
|
|
(23,342)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|||||
Reported
|
|
50
|
|
-
|
|
-
|
|
1,786
|
|
1,836
|
|
Currency translation
|
|
(2)
|
|
-
|
|
-
|
|
(30)
|
|
(32)
|
|
Adjusted
|
|
48
|
|
-
|
|
-
|
|
1,756
|
|
1,804
|
|
Profit before tax
|
|
|
|
|
|
|
|||||
Reported
|
|
5,607
|
|
5,531
|
|
3,832
|
|
2,274
|
|
17,244
|
|
Currency translation
|
|
(18)
|
|
(49)
|
|
(76)
|
|
(26)
|
|
(169)
|
|
Significant items
|
|
1,209
|
|
58
|
|
204
|
|
(853)
|
|
618
|
|
-
revenue
|
|
126
|
|
13
|
|
37
|
|
(1,136)
|
|
(960)
|
|
-
operating expenses
|
|
1,083
|
|
45
|
|
167
|
|
283
|
|
1,578
|
|
Adjusted
|
|
6,798
|
|
5,540
|
|
3,960
|
|
1,395
|
|
17,693
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|||||
Reported
|
|
422,503
|
|
341,396
|
|
252,713
|
|
1,221
|
|
1,017,833
|
|
Currency translation
|
|
12,094
|
|
7,196
|
|
5,141
|
|
49
|
|
24,480
|
|
Adjusted
|
|
434,597
|
|
348,592
|
|
257,854
|
|
1,270
|
|
1,042,313
|
|
Customer accounts
|
|
|
|
|
|
|
|||||
Reported
|
|
718,643
|
|
355,293
|
|
299,109
|
|
696
|
|
1,373,741
|
|
Currency translation
|
|
15,195
|
|
8,012
|
|
7,944
|
|
37
|
|
31,188
|
|
Adjusted
|
|
733,838
|
|
363,305
|
|
307,053
|
|
733
|
|
1,404,929
|
|
Reconciliation
of reported results to adjusted results - global
businesses
|
|||||||||||
|
|
Quarter ended 30 Sep 2020
|
|||||||||
|
|
Wealth andPersonalBanking
|
CommercialBanking
|
GlobalBanking andMarkets
|
CorporateCentre
|
Total
|
|||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
|||||
Revenue
|
1
|
|
|
|
|
|
|||||
Reported
|
|
5,409
|
|
3,148
|
|
3,510
|
|
(140)
|
|
11,927
|
|
Significant items
|
|
32
|
|
17
|
|
104
|
|
(15)
|
|
138
|
|
-
customer redress programmes
|
|
31
|
|
17
|
|
-
|
|
-
|
|
48
|
|
-
disposals, acquisitions and investment in new
businesses
|
|
1
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
-
fair value movements on financial instruments
|
2
|
-
|
|
-
|
|
3
|
|
(14)
|
|
(11)
|
|
-
restructuring and other related costs
|
3
|
-
|
|
-
|
|
101
|
|
-
|
|
101
|
|
Adjusted
|
|
5,441
|
|
3,165
|
|
3,614
|
|
(155)
|
|
12,065
|
|
ECL
|
|
|
|
|
|
|
|||||
Reported
|
|
(343)
|
|
(354)
|
|
(100)
|
|
12
|
|
(785)
|
|
Adjusted
|
|
(343)
|
|
(354)
|
|
(100)
|
|
12
|
|
(785)
|
|
Operating expenses
|
|
|
|
|
|
|
|||||
Reported
|
|
(3,871)
|
|
(1,587)
|
|
(2,412)
|
|
(171)
|
|
(8,041)
|
|
Significant items
|
|
189
|
|
(48)
|
|
130
|
|
359
|
|
630
|
|
-
customer redress programmes
|
|
(4)
|
|
-
|
|
-
|
|
7
|
|
3
|
|
-
impairment of goodwill and other intangibles
|
|
224
|
|
3
|
|
11
|
|
(181)
|
|
57
|
|
-
restructuring and other related costs
|
4
|
(31)
|
|
(51)
|
|
119
|
|
530
|
|
567
|
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
-
|
|
-
|
|
-
|
|
3
|
|
3
|
|
Adjusted
|
|
(3,682)
|
|
(1,635)
|
|
(2,282)
|
|
188
|
|
(7,411)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|||||
Reported
|
|
10
|
|
-
|
|
-
|
|
(37)
|
|
(27)
|
|
Significant items
|
|
-
|
|
-
|
|
-
|
|
462
|
|
462
|
|
-
impairment of goodwill
|
5
|
-
|
|
-
|
|
-
|
|
462
|
|
462
|
|
Adjusted
|
|
10
|
|
-
|
|
-
|
|
425
|
|
435
|
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|||||
Reported
|
|
1,205
|
|
1,207
|
|
998
|
|
(336)
|
|
3,074
|
|
Significant items
|
|
221
|
|
(31)
|
|
234
|
|
806
|
|
1,230
|
|
-
revenue
|
|
32
|
|
17
|
|
104
|
|
(15)
|
|
138
|
|
-
operating expenses
|
|
189
|
|
(48)
|
|
130
|
|
359
|
|
630
|
|
-
share of profit in associates and joint ventures
|
|
-
|
|
-
|
|
-
|
|
462
|
|
462
|
|
Adjusted
|
|
1,426
|
|
1,176
|
|
1,232
|
|
470
|
|
4,304
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|||||
Reported
|
|
459,516
|
|
343,702
|
|
236,902
|
|
1,220
|
|
1,041,340
|
|
Adjusted
|
|
459,516
|
|
343,702
|
|
236,902
|
|
1,220
|
|
1,041,340
|
|
Customer accounts
|
|
|
|
|
|
|
|||||
Reported
|
|
793,612
|
|
431,021
|
|
343,365
|
|
716
|
|
1,568,714
|
|
Adjusted
|
|
793,612
|
|
431,021
|
|
343,365
|
|
716
|
|
1,568,714
|
|
Reconciliation
of reported results to adjusted results - global businesses
(continued)
|
|||||||||||
|
|
Quarter ended 30 June 2020
|
|||||||||
|
|
Wealth andPersonalBanking
|
CommercialBanking
|
GlobalBanking andMarkets
|
Corporate Centre
|
Total
|
|||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
|||||
Revenue
|
1
|
|
|
|
|
|
|||||
Reported
|
|
5,656
|
|
3,267
|
|
4,240
|
|
(104)
|
|
13,059
|
|
Currency translation
|
|
113
|
|
76
|
|
98
|
|
(8)
|
|
279
|
|
Significant items
|
|
(26)
|
|
-
|
|
185
|
|
(64)
|
|
95
|
|
-
customer redress programmes
|
|
(26)
|
|
-
|
|
-
|
|
-
|
|
(26)
|
|
-
disposals, acquisitions and investment in new
businesses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
1
|
|
- fair value movements on financial instruments
|
2
|
-
|
|
-
|
|
121
|
|
(63)
|
|
58
|
|
- restructuring and other related costs
|
3
|
-
|
|
-
|
|
58
|
|
-
|
|
58
|
|
- currency translation on significant items
|
|
-
|
|
-
|
|
6
|
|
(2)
|
|
4
|
|
Adjusted
|
|
5,743
|
|
3,343
|
|
4,523
|
|
(176)
|
|
13,433
|
|
ECL
|
|
|
|
|
|
|
|||||
Reported
|
|
(1,094)
|
|
(2,151)
|
|
(573)
|
|
(14)
|
|
(3,832)
|
|
Currency translation
|
|
(34)
|
|
(61)
|
|
(22)
|
|
(1)
|
|
(118)
|
|
Adjusted
|
|
(1,128)
|
|
(2,212)
|
|
(595)
|
|
(15)
|
|
(3,950)
|
|
Operating expenses
|
|
|
|
|
|
|
|||||
Reported
|
|
(3,745)
|
|
(1,698)
|
|
(2,801)
|
|
(431)
|
|
(8,675)
|
|
Currency translation
|
|
(95)
|
|
(47)
|
|
(93)
|
|
9
|
|
(226)
|
|
Significant items
|
|
223
|
|
112
|
|
650
|
|
476
|
|
1,461
|
|
-
customer redress programmes
|
|
48
|
|
1
|
|
-
|
|
-
|
|
49
|
|
-
impairment of goodwill and other intangibles
|
|
85
|
|
41
|
|
567
|
|
332
|
|
1,025
|
|
-
restructuring and other related costs
|
4
|
82
|
|
63
|
|
58
|
|
132
|
|
335
|
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
-
|
|
-
|
|
-
|
|
4
|
|
4
|
|
- currency translation on significant items
|
|
8
|
|
7
|
|
25
|
|
8
|
|
48
|
|
Adjusted
|
|
(3,617)
|
|
(1,633)
|
|
(2,244)
|
|
54
|
|
(7,440)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|||||
Reported
|
|
(4)
|
|
-
|
|
-
|
|
541
|
|
537
|
|
Currency translation
|
|
-
|
|
-
|
|
-
|
|
16
|
|
16
|
|
Adjusted
|
|
(4)
|
|
-
|
|
-
|
|
557
|
|
553
|
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|||||
Reported
|
|
813
|
|
(582)
|
|
866
|
|
(8)
|
|
1,089
|
|
Currency translation
|
|
(16)
|
|
(32)
|
|
(17)
|
|
16
|
|
(49)
|
|
Significant items
|
|
197
|
|
112
|
|
835
|
|
412
|
|
1,556
|
|
- revenue
|
|
(26)
|
|
-
|
|
185
|
|
(64)
|
|
95
|
|
- operating expenses
|
|
223
|
|
112
|
|
650
|
|
476
|
|
1,461
|
|
Adjusted
|
|
994
|
|
(502)
|
|
1,684
|
|
420
|
|
2,596
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|||||
Reported
|
|
429,487
|
|
344,567
|
|
243,355
|
|
1,272
|
|
1,018,681
|
|
Currency translation
|
|
11,162
|
|
7,276
|
|
4,824
|
|
41
|
|
23,303
|
|
Adjusted
|
|
440,649
|
|
351,843
|
|
248,179
|
|
1,313
|
|
1,041,984
|
|
Customer accounts
|
|
|
|
|
|
|
|||||
Reported
|
|
775,870
|
|
418,263
|
|
337,573
|
|
674
|
|
1,532,380
|
|
Currency translation
|
|
14,347
|
|
9,642
|
|
8,674
|
|
29
|
|
32,692
|
|
Adjusted
|
|
790,217
|
|
427,905
|
|
346,247
|
|
703
|
|
1,565,072
|
|
Reconciliation
of reported results to adjusted results - global businesses
(continued)
|
|||||||||||
|
|
Quarter
ended 30 Sep 20191
|
|||||||||
|
|
Wealth andPersonalBanking
|
CommercialBanking
|
GlobalBanking andMarkets
|
CorporateCentre
|
Total
|
|||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
|||||
Revenue
|
2
|
|
|
|
|
|
|||||
Reported
|
|
6,084
|
|
3,764
|
|
3,527
|
|
(20)
|
|
13,355
|
|
Currency translation
|
|
29
|
|
26
|
|
26
|
|
(5)
|
|
76
|
|
Significant items
|
|
117
|
|
10
|
|
(38)
|
|
(173)
|
|
(84)
|
|
- customer redress programmes
|
|
108
|
|
9
|
|
-
|
|
1
|
|
118
|
|
- disposals, acquisitions and investment in new
businesses
|
|
4
|
|
-
|
|
-
|
|
-
|
|
4
|
|
- fair value movements on financial instruments
|
3
|
-
|
|
-
|
|
(37)
|
|
(173)
|
|
(210)
|
|
- currency translation on significant items
|
|
5
|
|
1
|
|
(1)
|
|
(1)
|
|
4
|
|
Adjusted
|
|
6,230
|
|
3,800
|
|
3,515
|
|
(198)
|
|
13,347
|
|
ECL
|
|
|
|
|
|
|
|||||
Reported
|
|
(451)
|
|
(410)
|
|
(26)
|
|
4
|
|
(883)
|
|
Currency translation
|
|
24
|
|
9
|
|
6
|
|
1
|
|
40
|
|
Adjusted
|
|
(427)
|
|
(401)
|
|
(20)
|
|
5
|
|
(843)
|
|
Operating expenses
|
|
|
|
|
|
|
|||||
Reported
|
|
(4,241)
|
|
(1,771)
|
|
(2,279)
|
|
144
|
|
(8,147)
|
|
Currency translation
|
|
(29)
|
|
(17)
|
|
(40)
|
|
8
|
|
(78)
|
|
Significant items
|
|
433
|
|
20
|
|
47
|
|
120
|
|
620
|
|
- costs of structural reform
|
4
|
-
|
|
1
|
|
7
|
|
27
|
|
35
|
|
- customer redress programmes
|
|
469
|
|
16
|
|
4
|
|
(1)
|
|
488
|
|
- restructuring and other related costs
|
|
13
|
|
3
|
|
35
|
|
89
|
|
140
|
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
(65)
|
|
-
|
|
-
|
|
1
|
|
(64)
|
|
- currency translation on significant items
|
|
16
|
|
-
|
|
1
|
|
4
|
|
21
|
|
Adjusted
|
|
(3,837)
|
|
(1,768)
|
|
(2,272)
|
|
272
|
|
(7,605)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|||||
Reported
|
|
7
|
|
-
|
|
-
|
|
505
|
|
512
|
|
Currency translation
|
|
-
|
|
-
|
|
-
|
|
7
|
|
7
|
|
Adjusted
|
|
7
|
|
-
|
|
-
|
|
512
|
|
519
|
|
Profit before tax
|
|
|
|
|
|
|
|||||
Reported
|
|
1,399
|
|
1,583
|
|
1,222
|
|
633
|
|
4,837
|
|
Currency translation
|
|
24
|
|
18
|
|
(8)
|
|
11
|
|
45
|
|
Significant items
|
|
550
|
|
30
|
|
9
|
|
(53)
|
|
536
|
|
- revenue
|
|
117
|
|
10
|
|
(38)
|
|
(173)
|
|
(84)
|
|
- operating expenses
|
|
433
|
|
20
|
|
47
|
|
120
|
|
620
|
|
Adjusted
|
|
1,973
|
|
1,631
|
|
1,223
|
|
591
|
|
5,418
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|||||
Reported
|
|
422,503
|
|
341,396
|
|
252,713
|
|
1,221
|
|
1,017,833
|
|
Currency translation
|
|
12,094
|
|
7,196
|
|
5,141
|
|
49
|
|
24,480
|
|
Adjusted
|
|
434,597
|
|
348,592
|
|
257,854
|
|
1,270
|
|
1,042,313
|
|
Customer accounts
|
|
|
|
|
|
|
|||||
Reported
|
|
718,643
|
|
355,293
|
|
299,109
|
|
696
|
|
1,373,741
|
|
Currency translation
|
|
15,195
|
|
8,012
|
|
7,944
|
|
37
|
|
31,188
|
|
Adjusted
|
|
733,838
|
|
363,305
|
|
307,053
|
|
733
|
|
1,404,929
|
|
Summary information - geographical regions
|
Reconciliation
of reported results to adjusted results - geographical
regions
|
|||||||||||||
|
|
Nine months ended 30 Sep 2020
|
|||||||||||
|
|
Europe
|
Asia
|
MENA
|
NorthAmerica
|
LatinAmerica
|
Total
|
||||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
||||||
Revenue
|
1
|
|
|
|
|
|
|
||||||
Reported
|
2
|
13,465
|
|
20,904
|
|
2,002
|
|
4,887
|
|
2,323
|
|
38,672
|
|
Significant items
|
|
(140)
|
|
(36)
|
|
(1)
|
|
55
|
|
(8)
|
|
(130)
|
|
-
customer redress programmes
|
|
22
|
|
-
|
|
-
|
|
-
|
|
-
|
|
22
|
|
-
disposals, acquisitions and investment in new
businesses
|
|
-
|
|
-
|
|
-
|
|
8
|
|
-
|
|
8
|
|
-
fair value movement on financial instruments
|
3
|
(264)
|
|
(36)
|
|
(1)
|
|
(1)
|
|
(8)
|
|
(310)
|
|
- restructuring and other related costs
|
4
|
102
|
|
-
|
|
-
|
|
48
|
|
-
|
|
150
|
|
Adjusted
|
2
|
13,325
|
|
20,868
|
|
2,001
|
|
4,942
|
|
2,315
|
|
38,542
|
|
ECL
|
|
|
|
|
|
|
|
||||||
Reported
|
|
(3,238)
|
|
(1,962)
|
|
(721)
|
|
(873)
|
|
(849)
|
|
(7,643)
|
|
Adjusted
|
|
(3,238)
|
|
(1,962)
|
|
(721)
|
|
(873)
|
|
(849)
|
|
(7,643)
|
|
Operating expenses
|
|
|
|
|
|
|
|
||||||
Reported
|
2
|
(13,159)
|
|
(9,773)
|
|
(1,192)
|
|
(3,998)
|
|
(1,355)
|
|
(24,568)
|
|
Significant items
|
|
1,555
|
|
48
|
|
65
|
|
517
|
|
30
|
|
2,215
|
|
- customer redress programmes
|
|
53
|
|
-
|
|
-
|
|
-
|
|
-
|
|
53
|
|
-
impairment of goodwill and other intangibles
|
|
800
|
|
-
|
|
60
|
|
222
|
|
-
|
|
1,082
|
|
-
restructuring and other related costs
|
5
|
694
|
|
48
|
|
5
|
|
295
|
|
30
|
|
1,072
|
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
8
|
|
-
|
|
-
|
|
-
|
|
-
|
|
8
|
|
Adjusted
|
2
|
(11,604)
|
|
(9,725)
|
|
(1,127)
|
|
(3,481)
|
|
(1,325)
|
|
(22,353)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|
||||||
Reported
|
|
(44)
|
|
1,387
|
|
(415)
|
|
-
|
|
3
|
|
931
|
|
Significant items
|
|
-
|
|
-
|
|
462
|
|
-
|
|
-
|
|
462
|
|
-
impairment of goodwill
|
6
|
-
|
|
-
|
|
462
|
|
-
|
|
-
|
|
462
|
|
Adjusted
|
|
(44)
|
|
1,387
|
|
47
|
|
-
|
|
3
|
|
1,393
|
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|
||||||
Reported
|
|
(2,976)
|
|
10,556
|
|
(326)
|
|
16
|
|
122
|
|
7,392
|
|
Significant items
|
|
1,415
|
|
12
|
|
526
|
|
572
|
|
22
|
|
2,547
|
|
- revenue
|
|
(140)
|
|
(36)
|
|
(1)
|
|
55
|
|
(8)
|
|
(130)
|
|
- operating expenses
|
|
1,555
|
|
48
|
|
65
|
|
517
|
|
30
|
|
2,215
|
|
- share of profit in associates and joint
ventures
|
|
-
|
|
-
|
|
462
|
|
-
|
|
-
|
|
462
|
|
Adjusted
|
|
(1,561)
|
|
10,568
|
|
200
|
|
588
|
|
144
|
|
9,939
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|
||||||
Reported
|
|
398,181
|
|
484,125
|
|
29,307
|
|
110,394
|
|
19,333
|
|
1,041,340
|
|
Adjusted
|
|
398,181
|
|
484,125
|
|
29,307
|
|
110,394
|
|
19,333
|
|
1,041,340
|
|
Customer accounts
|
|
|
|
|
|
|
|
||||||
Reported
|
|
593,172
|
|
732,367
|
|
40,815
|
|
177,478
|
|
24,882
|
|
1,568,714
|
|
Adjusted
|
|
593,172
|
|
732,367
|
|
40,815
|
|
177,478
|
|
24,882
|
|
1,568,714
|
|
Reconciliation
of reported results to adjusted results - geographical regions
(continued)
|
|||||||||||||
|
|
Nine months ended 30 Sep 2019
|
|||||||||||
|
|
Europe
|
Asia
|
MENA
|
NorthAmerica
|
LatinAmerica
|
Total
|
||||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
||||||
Revenue
|
1
|
|
|
|
|
|
|
||||||
Reported
|
2
|
13,481
|
|
23,174
|
|
2,946
|
|
4,984
|
|
2,579
|
|
42,727
|
|
Currency translation
|
2
|
(53)
|
|
(62)
|
|
(9)
|
|
(23)
|
|
(491)
|
|
(605)
|
|
Significant items
|
|
(173)
|
|
20
|
|
(827)
|
|
12
|
|
8
|
|
(960)
|
|
-
customer redress programmes
|
|
118
|
|
-
|
|
-
|
|
-
|
|
-
|
|
118
|
|
-
disposals, acquisitions and investment in new
businesses
|
|
-
|
|
-
|
|
(828)
|
|
4
|
|
1
|
|
(823)
|
|
-
fair value movements on financial instruments
|
3
|
(295)
|
|
20
|
|
-
|
|
8
|
|
7
|
|
(260)
|
|
-
currency translation on significant items
|
|
4
|
|
-
|
|
1
|
|
-
|
|
-
|
|
5
|
|
Adjusted
|
2
|
13,255
|
|
23,132
|
|
2,110
|
|
4,973
|
|
2,096
|
|
41,162
|
|
ECL
|
|
|
|
|
|
|
|
||||||
Reported
|
|
(810)
|
|
(542)
|
|
(65)
|
|
(140)
|
|
(466)
|
|
(2,023)
|
|
Currency translation
|
|
6
|
|
2
|
|
(2)
|
|
1
|
|
85
|
|
92
|
|
Adjusted
|
|
(804)
|
|
(540)
|
|
(67)
|
|
(139)
|
|
(381)
|
|
(1,931)
|
|
Operating expenses
|
|
|
|
|
|
|
|
||||||
Reported
|
2
|
(13,633)
|
|
(9,795)
|
|
(1,052)
|
|
(3,799)
|
|
(1,454)
|
|
(25,296)
|
|
Currency translation
|
2
|
25
|
|
77
|
|
15
|
|
14
|
|
278
|
|
376
|
|
Significant items
|
|
1,433
|
|
72
|
|
8
|
|
52
|
|
13
|
|
1,578
|
|
-
costs of structural reform
|
4
|
123
|
|
3
|
|
-
|
|
-
|
|
-
|
|
126
|
|
-
customer redress programmes
|
|
1,098
|
|
-
|
|
-
|
|
-
|
|
-
|
|
1,098
|
|
-
restructuring and other related costs
|
|
278
|
|
72
|
|
8
|
|
52
|
|
17
|
|
427
|
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
(65)
|
|
(1)
|
|
-
|
|
-
|
|
-
|
|
(66)
|
|
-
currency translation on significant items
|
|
(1)
|
|
(2)
|
|
-
|
|
-
|
|
(4)
|
|
(7)
|
|
Adjusted
|
2
|
(12,175)
|
|
(9,646)
|
|
(1,029)
|
|
(3,733)
|
|
(1,163)
|
|
(23,342)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|
||||||
Reported
|
|
18
|
|
1,594
|
|
212
|
|
-
|
|
12
|
|
1,836
|
|
Currency translation
|
|
1
|
|
(31)
|
|
-
|
|
-
|
|
(2)
|
|
(32)
|
|
Adjusted
|
|
19
|
|
1,563
|
|
212
|
|
-
|
|
10
|
|
1,804
|
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|
||||||
Reported
|
|
(944)
|
|
14,431
|
|
2,041
|
|
1,045
|
|
671
|
|
17,244
|
|
Currency translation
|
|
(21)
|
|
(14)
|
|
4
|
|
(8)
|
|
(130)
|
|
(169)
|
|
Significant items
|
|
1,260
|
|
92
|
|
(819)
|
|
64
|
|
21
|
|
618
|
|
- revenue
|
|
(173)
|
|
20
|
|
(827)
|
|
12
|
|
8
|
|
(960)
|
|
- operating expenses
|
|
1,433
|
|
72
|
|
8
|
|
52
|
|
13
|
|
1,578
|
|
Adjusted
|
|
295
|
|
14,509
|
|
1,226
|
|
1,101
|
|
562
|
|
17,693
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|
||||||
Reported
|
|
377,153
|
|
478,015
|
|
28,091
|
|
111,963
|
|
22,611
|
|
1,017,833
|
|
Currency translation
|
|
20,084
|
|
8,204
|
|
(701)
|
|
(420)
|
|
(2,687)
|
|
24,480
|
|
Adjusted
|
|
397,237
|
|
486,219
|
|
27,390
|
|
111,543
|
|
19,924
|
|
1,042,313
|
|
Customer accounts
|
|
|
|
|
|
|
|
||||||
Reported
|
|
496,874
|
|
672,557
|
|
36,768
|
|
142,781
|
|
24,761
|
|
1,373,741
|
|
Currency translation
|
|
25,650
|
|
10,001
|
|
(896)
|
|
(443)
|
|
(3,124)
|
|
31,188
|
|
Adjusted
|
|
522,524
|
|
682,558
|
|
35,872
|
|
142,338
|
|
21,637
|
|
1,404,929
|
|
Reconciliation
of reported results to adjusted results - geographical regions
(continued)
|
|||||||||||||
|
|
Quarter ended 30 Sep 2020
|
|||||||||||
|
|
Europe
|
Asia
|
MENA
|
NorthAmerica
|
LatinAmerica
|
Total
|
||||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
||||||
Revenue
|
1
|
|
|
|
|
|
|
||||||
Reported
|
2
|
4,489
|
|
6,324
|
|
623
|
|
1,482
|
|
746
|
|
11,927
|
|
Significant items
|
|
90
|
|
(2)
|
|
-
|
|
49
|
|
1
|
|
138
|
|
-
customer redress programmes
|
|
48
|
|
-
|
|
-
|
|
-
|
|
-
|
|
48
|
|
-
fair value movements on financial instruments
|
3
|
(12)
|
|
(2)
|
|
-
|
|
2
|
|
1
|
|
(11)
|
|
- restructuring and other related costs
|
4
|
54
|
|
-
|
|
-
|
|
47
|
|
-
|
|
101
|
|
Adjusted
|
2
|
4,579
|
|
6,322
|
|
623
|
|
1,531
|
|
747
|
|
12,065
|
|
ECL
|
|
|
|
|
|
|
|
||||||
Reported
|
|
(353)
|
|
(144)
|
|
(110)
|
|
14
|
|
(192)
|
|
(785)
|
|
Adjusted
|
|
(353)
|
|
(144)
|
|
(110)
|
|
14
|
|
(192)
|
|
(785)
|
|
Operating expenses
|
|
|
|
|
|
|
|
||||||
Reported
|
2
|
(4,058)
|
|
(3,343)
|
|
(429)
|
|
(1,503)
|
|
(445)
|
|
(8,041)
|
|
Significant items
|
|
224
|
|
30
|
|
24
|
|
333
|
|
19
|
|
630
|
|
- customer redress programmes
|
|
3
|
|
-
|
|
-
|
|
-
|
|
-
|
|
3
|
|
-
impairment of goodwill and other intangibles
|
|
(184)
|
|
-
|
|
19
|
|
222
|
|
-
|
|
57
|
|
-
restructuring and other related costs
|
5
|
402
|
|
30
|
|
5
|
|
111
|
|
19
|
|
567
|
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
3
|
|
-
|
|
-
|
|
-
|
|
-
|
|
3
|
|
Adjusted
|
2
|
(3,834)
|
|
(3,313)
|
|
(405)
|
|
(1,170)
|
|
(426)
|
|
(7,411)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|
||||||
Reported
|
|
6
|
|
350
|
|
(384)
|
|
-
|
|
1
|
|
(27)
|
|
Significant items
|
|
-
|
|
-
|
|
462
|
|
-
|
|
-
|
|
462
|
|
- impairment of goodwill
|
6
|
-
|
|
-
|
|
462
|
|
-
|
|
-
|
|
462
|
|
Adjusted
|
|
6
|
|
350
|
|
78
|
|
-
|
|
1
|
|
435
|
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|
||||||
Reported
|
|
84
|
|
3,187
|
|
(300)
|
|
(7)
|
|
110
|
|
3,074
|
|
Significant items
|
|
314
|
|
28
|
|
486
|
|
382
|
|
20
|
|
1,230
|
|
- revenue
|
|
90
|
|
(2)
|
|
-
|
|
49
|
|
1
|
|
138
|
|
- operating expenses
|
|
224
|
|
30
|
|
24
|
|
333
|
|
19
|
|
630
|
|
-
share of profit in associates and joint ventures
|
|
-
|
|
-
|
|
462
|
|
-
|
|
-
|
|
462
|
|
Adjusted
|
|
398
|
|
3,215
|
|
186
|
|
375
|
|
130
|
|
4,304
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|
||||||
Reported
|
|
398,181
|
|
484,125
|
|
29,307
|
|
110,394
|
|
19,333
|
|
1,041,340
|
|
Adjusted
|
|
398,181
|
|
484,125
|
|
29,307
|
|
110,394
|
|
19,333
|
|
1,041,340
|
|
Customer accounts
|
|
|
|
|
|
|
|
||||||
Reported
|
|
593,172
|
|
732,367
|
|
40,815
|
|
177,478
|
|
24,882
|
|
1,568,714
|
|
Adjusted
|
|
593,172
|
|
732,367
|
|
40,815
|
|
177,478
|
|
24,882
|
|
1,568,714
|
|
Reconciliation
of reported to adjusted results - geographical regions
(continued)
|
|||||||||||||
|
|
Quarter ended 30 Jun 2020
|
|||||||||||
|
|
Europe
|
Asia
|
MENA
|
NorthAmerica
|
LatinAmerica
|
Total
|
||||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
||||||
Revenue
|
1
|
|
|
|
|
|
|
||||||
Reported
|
2
|
4,556
|
|
7,021
|
|
689
|
|
1,701
|
|
714
|
|
13,059
|
|
Currency translation
|
2
|
200
|
|
72
|
|
(3)
|
|
15
|
|
15
|
|
279
|
|
Significant items
|
|
2
|
|
64
|
|
-
|
|
21
|
|
8
|
|
95
|
|
- customer redress programmes
|
|
(26)
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(26)
|
|
- disposals, acquisitions and investment in new
businesses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
1
|
|
- fair value movements on financial instruments
|
3
|
(23)
|
|
64
|
|
-
|
|
10
|
|
7
|
|
58
|
|
- restructuring and other related costs
|
4
|
48
|
|
-
|
|
-
|
|
10
|
|
-
|
|
58
|
|
- currency translation on significant items
|
|
3
|
|
-
|
|
-
|
|
-
|
|
1
|
|
4
|
|
Adjusted
|
2
|
4,758
|
|
7,157
|
|
686
|
|
1,737
|
|
737
|
|
13,433
|
|
ECL
|
|
|
|
|
|
|
|
||||||
Reported
|
|
(2,017)
|
|
(818)
|
|
(278)
|
|
(379)
|
|
(340)
|
|
(3,832)
|
|
Currency translation
|
|
(84)
|
|
(13)
|
|
-
|
|
(5)
|
|
(16)
|
|
(118)
|
|
Adjusted
|
|
(2,101)
|
|
(831)
|
|
(278)
|
|
(384)
|
|
(356)
|
|
(3,950)
|
|
Operating expenses
|
|
|
|
|
|
|
|
||||||
Reported
|
2
|
(5,139)
|
|
(3,146)
|
|
(394)
|
|
(1,188)
|
|
(430)
|
|
(8,675)
|
|
Currency translation
|
2
|
(192)
|
|
(40)
|
|
2
|
|
(10)
|
|
(6)
|
|
(226)
|
|
Significant items
|
|
1,327
|
|
16
|
|
41
|
|
67
|
|
10
|
|
1,461
|
|
- customer redress programmes
|
|
49
|
|
-
|
|
-
|
|
-
|
|
-
|
|
49
|
|
- goodwill impairment
|
|
984
|
|
-
|
|
41
|
|
-
|
|
-
|
|
1,025
|
|
- restructuring and other related costs
|
5
|
239
|
|
17
|
|
-
|
|
68
|
|
11
|
|
335
|
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
4
|
|
-
|
|
-
|
|
-
|
|
-
|
|
4
|
|
- currency translation on significant items
|
|
51
|
|
(1)
|
|
-
|
|
(1)
|
|
(1)
|
|
48
|
|
Adjusted
|
2
|
(4,004)
|
|
(3,170)
|
|
(351)
|
|
(1,131)
|
|
(426)
|
|
(7,440)
|
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|
||||||
Reported
|
|
51
|
|
572
|
|
(87)
|
|
-
|
|
1
|
|
537
|
|
Currency translation
|
|
2
|
|
14
|
|
-
|
|
-
|
|
-
|
|
16
|
|
Adjusted
|
|
53
|
|
586
|
|
(87)
|
|
-
|
|
1
|
|
553
|
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|
||||||
Reported
|
|
(2,549)
|
|
3,629
|
|
(70)
|
|
134
|
|
(55)
|
|
1,089
|
|
Currency translation
|
|
(74)
|
|
33
|
|
(1)
|
|
-
|
|
(7)
|
|
(49)
|
|
Significant items
|
|
1,329
|
|
80
|
|
41
|
|
88
|
|
18
|
|
1,556
|
|
- revenue
|
|
2
|
|
64
|
|
-
|
|
21
|
|
8
|
|
95
|
|
- operating expenses
|
|
1,327
|
|
16
|
|
41
|
|
67
|
|
10
|
|
1,461
|
|
Adjusted
|
|
(1,294)
|
|
3,742
|
|
(30)
|
|
222
|
|
(44)
|
|
2,596
|
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|
||||||
Reported
|
|
378,729
|
|
474,739
|
|
29,615
|
|
115,813
|
|
19,785
|
|
1,018,681
|
|
Currency translation
|
|
17,452
|
|
4,435
|
|
(275)
|
|
984
|
|
707
|
|
23,303
|
|
Adjusted
|
|
396,181
|
|
479,174
|
|
29,340
|
|
116,797
|
|
20,492
|
|
1,041,984
|
|
Customer accounts
|
|
|
|
|
|
|
|
||||||
Reported
|
|
562,505
|
|
723,072
|
|
41,197
|
|
180,489
|
|
25,117
|
|
1,532,380
|
|
Currency translation
|
|
25,896
|
|
5,292
|
|
(322)
|
|
1,132
|
|
694
|
|
32,692
|
|
Adjusted
|
|
588,401
|
|
728,364
|
|
40,875
|
|
181,621
|
|
25,811
|
|
1,565,072
|
|
Reconciliation
of reported to adjusted results - geographical regions
|
|||||||||||
|
|
Quarter ended 30 Sep 2019
|
|||||||||
|
|
Europe
|
Asia
|
MENA
|
NorthAmerica
|
LatinAmerica
|
Total
|
||||
|
Footnotes
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
||||
Revenue
|
1
|
|
|
|
|
|
|
||||
Reported
|
2
|
4,229
|
7,715
|
|
703
|
|
1,619
|
|
679
|
|
13,355
|
Currency translation
|
2
|
193
|
36
|
|
(12)
|
|
(4)
|
|
(135)
|
|
76
|
Significant items
|
|
(66)
|
(20)
|
|
-
|
|
4
|
|
(2)
|
|
(84)
|
- customer redress programmes
|
|
118
|
-
|
|
-
|
|
-
|
|
-
|
|
118
|
-
disposals, acquisitions and investment in new
businesses
|
|
-
|
-
|
|
-
|
|
4
|
|
-
|
|
4
|
-
fair value movements on financial instruments
|
3
|
(188)
|
(20)
|
|
-
|
|
-
|
|
(2)
|
|
(210)
|
-
currency translation on significant items
|
|
4
|
-
|
|
-
|
|
-
|
|
-
|
|
4
|
Adjusted
|
2
|
4,356
|
7,731
|
|
691
|
|
1,619
|
|
542
|
|
13,347
|
ECL
|
|
|
|
|
|
|
|
||||
Reported
|
|
(274)
|
(282)
|
|
(16)
|
|
(80)
|
|
(231)
|
|
(883)
|
Currency translation
|
|
(7)
|
(2)
|
|
(1)
|
|
-
|
|
50
|
|
40
|
Adjusted
|
|
(281)
|
(284)
|
|
(17)
|
|
(80)
|
|
(181)
|
|
(843)
|
Operating expenses
|
|
|
|
|
|
|
|
||||
Reported
|
2
|
(4,389)
|
(3,305)
|
|
(358)
|
|
(1,240)
|
|
(445)
|
|
(8,147)
|
Currency translation
|
2
|
(183)
|
(4)
|
|
8
|
|
3
|
|
96
|
|
(78)
|
Significant items
|
|
570
|
27
|
|
3
|
|
17
|
|
3
|
|
620
|
- costs of structural reform
|
4
|
33
|
2
|
|
-
|
|
-
|
|
-
|
|
35
|
- customer redress programmes
|
|
488
|
-
|
|
-
|
|
-
|
|
-
|
|
488
|
- restructuring and other related costs
|
|
89
|
25
|
|
3
|
|
18
|
|
5
|
|
140
|
-
settlements and provisions in connection with legal and regulatory
matters
|
|
(64)
|
-
|
|
-
|
|
-
|
|
-
|
|
(64)
|
- currency translation on significant items
|
|
24
|
-
|
|
-
|
|
(1)
|
|
(2)
|
|
21
|
Adjusted
|
2
|
(4,002)
|
(3,282)
|
|
(347)
|
|
(1,220)
|
|
(346)
|
|
(7,605)
|
Share of profit in associates and joint ventures
|
|
|
|
|
|
|
|
||||
Reported
|
|
10
|
523
|
|
(24)
|
|
-
|
|
3
|
|
512
|
Currency translation
|
|
1
|
7
|
|
-
|
|
-
|
|
(1)
|
|
7
|
Adjusted
|
|
11
|
530
|
|
(24)
|
|
-
|
|
2
|
|
519
|
Profit/(loss) before tax
|
|
|
|
|
|
|
|
||||
Reported
|
|
(424)
|
4,651
|
|
305
|
|
299
|
|
6
|
|
4,837
|
Currency translation
|
|
4
|
37
|
|
(5)
|
|
(1)
|
|
10
|
|
45
|
Significant items
|
|
504
|
7
|
|
3
|
|
21
|
|
1
|
|
536
|
- revenue
|
|
(66)
|
(20)
|
|
-
|
|
4
|
|
(2)
|
|
(84)
|
- operating expenses
|
|
570
|
27
|
|
3
|
|
17
|
|
3
|
|
620
|
Adjusted
|
|
84
|
4,695
|
|
303
|
|
319
|
|
17
|
|
5,418
|
Loans and advances to customers (net)
|
|
|
|
|
|
|
|
||||
Reported
|
|
377,153
|
478,015
|
|
28,091
|
|
111,963
|
|
22,611
|
|
1,017,833
|
Currency translation
|
|
20,084
|
8,204
|
|
(701)
|
|
(420)
|
|
(2,687)
|
|
24,480
|
Adjusted
|
|
397,237
|
486,219
|
|
27,390
|
|
111,543
|
|
19,924
|
|
1,042,313
|
Customer accounts
|
|
|
|
|
|
|
|
||||
Reported
|
|
496,874
|
672,557
|
|
36,768
|
|
142,781
|
|
24,761
|
|
1,373,741
|
Currency translation
|
|
25,650
|
10,001
|
|
(896)
|
|
(443)
|
|
(3,124)
|
|
31,188
|
Adjusted
|
|
522,524
|
682,558
|
|
35,872
|
|
142,338
|
|
21,637
|
|
1,404,929
|
Dividend
on preference shares
|
Terms
and abbreviations
|
1H19
|
First half of 2019
|
1H20
|
First half of 2020
|
1Q19
|
First quarter of 2019
|
1Q20
|
First quarter of 2020
|
2Q19
|
Second quarter of 2019
|
2Q20
|
Second quarter of 2020
|
3Q19
|
Third quarter of 2019
|
3Q20
|
Third quarter of 2020
|
4Q19
|
Fourth quarter of 2019
|
4Q20
|
Fourth quarter of 2020
|
9M19
|
Nine months to 30 September 2019
|
9M20
|
Nine months to 30 September 2020
|
AIEA
|
Average interest-earning assets
|
BoCom
|
Bank of Communications Co., Limited, one of China's largest
banks
|
Bps
|
Basis points. One basis point is equal to one-hundredth of a
percentage point
|
BSM
|
Balance Sheet Management
|
C&L
|
Credit and Lending
|
CET1
|
Common equity tier 1
|
CMB
|
Commercial Banking, a global business
|
CODM
|
Chief Operating Decision Maker
|
Corporate Centre
|
Corporate Centre comprises Central Treasury, our legacy businesses,
interests in our associates and joint ventures, central stewardship
costs and the UK bank levy
|
CRR II
|
Revised Capital Requirements Regulation and Directive, as
implemented
|
DPD
|
Days past due
|
EBA
|
European Banking Authority
|
ECL
|
Expected credit losses. In the income statement, ECL is recorded as
a change in expected credit losses and other credit impairment
charges. In the balance sheet, ECL is recorded as an allowance for
financial instruments to which only the impairment requirements
inIFRS 9 are applied
|
ESG
|
Environmental, social and governance
|
FTE
|
Full-time equivalent staff
|
FVOCI
|
Fair value through other comprehensive income
|
GBM
|
Global Banking and Markets, a global business
|
GEC
|
Group Executive Committee
|
GLCM
|
Global Liquidity and Cash Management
|
GPB
|
Global Private Banking, a former global business now part of Wealth
and Personal Banking
|
Group
|
HSBC Holdings together with its subsidiary
undertakings
|
GTRF
|
Global Trade and Receivables Finance
|
Hong Kong
|
Hong Kong Special Administrative Region of the People's Republic of
China
|
HSBC
|
HSBC Holdings together with its subsidiary
undertakings
|
HSBC Bank
|
HSBC Bank plc, also known as the non-ring-fenced bank
|
HSBC Holdings
|
HSBC Holdings plc, the parent company of HSBC
|
HSBC UK
|
HSBC UK Bank plc, also known as the ring-fenced bank
|
IAS
|
International Accounting Standards
|
IFRSs
|
International Financial Reporting Standards
|
IRB
|
Internal ratings based
|
JV
|
Joint venture
|
LCR
|
Liquidity coverage ratio
|
LGD
|
Loss given default
|
Mainland China
|
People's Republic of China excluding Hong Kong and
Macau
|
MENA
|
Middle East and North Africa
|
Net operating income
|
Net operating income before change in expected credit losses and
other credit impairment charges, also referred to as
revenue
|
NIM
|
Net interest margin
|
POCI
|
Purchased or originated credit-impaired financial
assets
|
PRA
|
Prudential Regulation Authority (UK)
|
RBWM
|
Retail Banking and Wealth Management, a former global business now
part of Wealth and Personal Banking
|
Revenue
|
Net operating income before ECL
|
RoE
|
Return on equity
|
RoTE
|
Return on average tangible equity
|
RWAs
|
Risk-weighted assets
|
SABB
|
The Saudi British Bank
|
ServCo group
|
Separately incorporated group of service companies set up in
response to UK ring-fencing proposals
|
WPB
|
Wealth and Personal Banking, a global business
|
$m/$bn/$tn
|
United States dollar millions/billions/trillions. We report in US
dollars
|
HSBC
Holdings plc
|
|
|
|
|
By:
|
|
Name:
Aileen Taylor
|
|
Title:
Group Company Secretary and Chief Governance Officer
|
|
|
|
Date:
27 October 2020
|