Gurpreet Singh Sahi

Joseph Dickerson

Aman Rakkar

Andrew Coombs

Benjamin Toms

Jason Napier

Katherine Lei

Kian Abouhossein

Kunpeng Ma

Kendra Yan

Raul Sinha

Amit Goel

Edward Hugo Firth

Ian Zhou Yu

Jeremy Hugh

Katherine Lai

Manus Costello

Perlie Mong

Robert Noble

- HSBC Holdings plc reported a **profit before tax of $7.3 billion** for Q3 2025, a **$1.2 billion decrease** compared to Q3 2024, primarily due to **$1.4 billion in legal provisions** related to historical matters.  **[1089113_0001089113-25-000056_livedocq32025earningsrelea.htm:1]** 
- Despite the decrease in reported profit, **revenue increased by $0.8 billion, or 5%, to $17.8 billion** in Q3 2025 compared to Q3 2024, driven by growth in banking net interest income and a strong performance in Wealth.  **[1089113_0001089113-25-000056_livedocq32025earningsrelea.htm:1]** 
- The annualised return on average tangible equity (RoTE) for Q3 2025 was **12.3%**, but **16.4% excluding notable items**, an increase of **0.5 percentage points** compared to Q3 2024.  **[1089113_0001089113-25-000056_livedocq32025earningsrelea.htm:1]** 
- For the nine-month period ended September 30, 2025, reported profit before tax decreased by **$6.9 billion to $23.1 billion** compared to 9M 2024, largely due to an **$8.2 billion impact from notable items**, including the non-recurrence of prior year gains and **$2.1 billion in dilution and impairment losses** related to Bank of Communications Co., Limited.  **[1089113_0001089113-25-000056_livedocq32025earningsrelea.htm:3]** 
- Group CEO Georges Elhedery updated the 2025 RoTE target, expecting it to be **mid-teens, or better**, excluding notable items.  **[1089113_0001089113-25-000056_livedocq32025earningsrelea.htm:0]**

HSBC Holdings plc Reports Q3 2025 Earnings

- For the nine months ended September 30, 2025, HSBC Holdings plc reported a **profit before tax of $23.1 billion**, a decrease of **$6.9 billion** compared to 9M 2024, primarily due to an **$8.2 billion** year-on-year impact of notable items.  **[1089113_0001654954-25-012267_a0904fnew.htm:3]**  Revenue decreased by **$2.4 billion or 4% to $51.9 billion** compared to 9M 2024, also reflecting the impact of notable items.  **[1089113_0001654954-25-012267_a0904fnew.htm:3]** 
- The annualized Return on Tangible Equity (RoTE) was **13.9%** for 9M 2025, compared with 19.3% in 9M 2024. Excluding notable items, annualized RoTE in 9M 2025 was **17.6%**, an increase of 0.9 percentage points compared with 9M 2024.  **[1089113_0001654954-25-012267_a0904fnew.htm:3]**  The company expects to deliver a **mid-teens or better RoTE for 2025**, excluding notable items.  **[1089113_0001654954-25-012267_a0904fnew.htm:4]** 
- Net Interest Income (NII) increased by **$1.1 billion to $25.6 billion** for 9M 2025 compared to 9M 2024.  **[1089113_0001654954-25-012267_a0904fnew.htm:3]**  Expected Credit Losses (ECL) increased by **$0.9 billion to $2.9 billion** in 9M 2025, with an annualised charge of **40 basis points** of average gross loans, and this is expected to remain around **40 basis points in 2025**.  **[1089113_0001654954-25-012267_a0904fnew.htm:3]** **[1089113_0001654954-25-012267_a0904fnew.htm:4]**  Operating expenses increased by **$2.7 billion or 11% to $27.1 billion** in 9M 2025, mainly due to notable items including **$1.4 billion** in legal provisions and **$0.8 billion** in restructuring costs.  **[1089113_0001654954-25-012267_a0904fnew.htm:3]**  Target basis operating expense growth in 2025 compared with 2024 is expected to be approximately **3%**.  **[1089113_0001654954-25-012267_a0904fnew.htm:4]** 
- HSBC announced a conditional proposal to privatize Hang Seng Bank, which is expected to result in a net reduction of approximately **125 basis points** in the CET1 capital ratio upon completion.  **[1089113_0001654954-25-012267_a0904fnew.htm:5]**  The company intends not to initiate share buy-backs temporarily to allow CET1 capital to increase and to restore the CET1 capital ratio to within its target range of **14%-14.5%**.  **[1089113_0001654954-25-012267_a0904fnew.htm:4]** **[1089113_0001654954-25-012267_a0904fnew.htm:5]**

HSBC Holdings plc Reports Q3 and 9M 2025 Financial Results

- HSBC reported strong Q3 2025 results, with **revenue growing 3% year-on-year to $17.9 billion** and **profit before tax reaching $9.1 billion**.  **[0001089113_2206657_1]**  The annualized Return on Tangible Equity (RoTE) was **16.4%** for the quarter and **17.6%** year-to-date, excluding notable items.  **[0001089113_2206657_1]** 
- The company announced its intention to **privatize Hang Seng Bank** on October 9th, viewing it as a compelling growth opportunity and a statement of confidence in Hong Kong.  **[0001089113_2206657_1]** 
- HSBC upgraded its 2025 guidance, now targeting **banking Net Interest Income (NII) of $43 billion or better** and a 2025 RoTE (excluding notable items) of **mid-teens or better**.  **[0001089113_2206657_1]** **[0001089113_2206657_2]** **[0001089113_2206657_4]** 
- Strategic exits are progressing, with **11 non-strategic activities announced for exit this year**, including HSBC Malta and retail banking in Sri Lanka, alongside a review of Egyptian retail banking.  **[0001089113_2206657_1]** **[0001089113_2206657_3]** **[0001089113_2206657_4]** 
- The company recorded **$1.4 billion in legal provisions** for historical matters, including **$1.1 billion** for Madoff litigation.  **[0001089113_2206657_3]**

HSBC Reports Strong Q3 2025 Results, Upgrades 2025 Guidance, and Announces Hang Seng Bank Privatization

- HSBC Holdings plc will recognize a **US$1.1 billion provision** in its **Q3 2025** consolidated financial results due to an update on the Herald Fund SPC litigation related to the Madoff fraud.  **[1089113_0001654954-25-012230_a8533e.htm:0]** 
- This provision is expected to have an **around 15 basis points impact on the Group's CET1 capital ratio**.  **[1089113_0001654954-25-012230_a8533e.htm:0]** 
- The Luxembourg Court of Cassation denied HSBC Securities Services Luxembourg's (HSSL) appeal regarding Herald's securities restitution claim but accepted its appeal for the cash restitution claim; HSSL will pursue a second appeal.  **[1089113_0001654954-25-012230_a8533e.htm:0]** 
- The provision will be classified as a **material notable item** and is not expected to impact FY25 RoTE excluding notable items or any dividend.  **[1089113_0001654954-25-012230_a8533e.htm:0]**

HSBC Holdings plc announces Q3 2025 provision related to Madoff litigation

- HSBC Holdings is set to record a **$1.1 billion provision** in its **third-quarter 2025 results** following a Luxembourg Court of Cassation ruling related to the Bernard Madoff investment fraud case.  **[1089113_f2715979ca7449c5a925b0ddac0db68c]** 
- The provision arises from a long-running lawsuit by Herald Fund SPC seeking restitution for securities and cash lost in the Madoff Ponzi scheme.  **[1089113_f2715979ca7449c5a925b0ddac0db68c]** 
- The court denied HSBC's appeal on securities restitution but upheld it on the cash claim, leading HSBC to pursue a **second appeal**.  **[1089113_f2715979ca7449c5a925b0ddac0db68c]** 
- This provision will impact HSBC's Common Equity Tier 1 capital ratio by approximately **15 basis points** but will **not affect its full-year return on tangible equity or dividend payout**.  **[1089113_f2715979ca7449c5a925b0ddac0db68c]**

HSBC to Record $1.1 Billion Provision for Madoff Case

- HSBC Holdings plc purchased **1,297,200** ordinary shares of US$0.50 on **October 24, 2025**, on the Hong Kong Stock Exchange at a volume weighted average price of **HK$103.2808** per share.  **[1089113_0001654954-25-012193_a8093e.htm:0]** 
- The company's share buy-back program has **concluded**.  **[1089113_0001654954-25-012193_a8093e.htm:0]** 
- Since the commencement of the buy-back, HSBC repurchased a total of **136,301,568** ordinary shares on UK Venues and **91,040,400** ordinary shares on the Hong Kong Stock Exchange, for an approximate total consideration of **US$3bn**.  **[1089113_0001654954-25-012193_a8093e.htm:0]** 
- Following the cancellation of shares repurchased on UK Venues, the company's issued ordinary share capital consists of **17,201,971,220** ordinary shares with voting rights.  **[1089113_0001654954-25-012193_a8093e.htm:0]**

HSBC announces conclusion of share buy-back

- **HSBC** is conducting a **strategic review** of its retail banking business in Egypt as part of a broader global restructuring aimed at streamlining operations and focusing on core markets.  **[1089113_4d45f39aa94f45838faf1f5cd63f672e]** 
- This global overhaul, led by Chief Executive **Georges Elhedery**, focuses on **streamlining operations and cutting costs**.  **[1089113_4d45f39aa94f45838faf1f5cd63f672e]** 
- The review in Egypt considers all options for the retail segment, but **wholesale banking activities will not be affected**.  **[1089113_4d45f39aa94f45838faf1f5cd63f672e]** 
- This follows similar reviews and divestments in other markets, alongside a proposed takeover of Hong Kong-based Hang Seng Bank, indicating a **mixed approach to restructuring**.  **[1089113_4d45f39aa94f45838faf1f5cd63f672e]**

HSBC Initiates Strategic Review of Egypt Retail Banking Amid Global Restructuring

- HSBC Holdings plc purchased **800 ordinary shares** of US$0.50 each for cancellation on **October 21, 2025**, on the Hong Kong Stock Exchange at a **volume weighted average price of HK$102.1000**.  **[1089113_0001654954-25-012016_a2662e.htm:0]** 
- This transaction is part of a share buy-back program announced on **July 31, 2025**.  **[1089113_0001654954-25-012016_a2662e.htm:0]** 
- Since the commencement of the buy-back, the company has repurchased a total of **226,044,768 ordinary shares** for an approximate total consideration of **US$2,976.8 million**.  **[1089113_0001654954-25-012016_a2662e.htm:0]** 
- Following the cancellation of shares repurchased on UK Venues, the company's issued ordinary share capital consists of **17,201,971,220 ordinary shares** with voting rights.  **[1089113_0001654954-25-012016_a2662e.htm:0]**

HSBC Holdings plc Announces Share Repurchase

- HSBC Holdings plc purchased a total of **9,509,255** ordinary shares for cancellation on **October 17, 2025**, as part of its buy-back program.  **[1089113_0001654954-25-011919_a9139d.htm:0]** 
- These purchases included **4,942,855** shares on UK Venues and **4,566,400** shares on the Hong Kong Stock Exchange.  **[1089113_0001654954-25-011919_a9139d.htm:0]** 
- Since the commencement of the buy-back announced on July 31, 2025, the company has repurchased **226,043,968** ordinary shares for a total consideration of approximately **US$2,976.7m**.  **[1089113_0001654954-25-011919_a9139d.htm:0]** 
- Following the cancellation of shares repurchased on UK Venues, the company's issued ordinary share capital will consist of **17,201,971,220** ordinary shares with voting rights.  **[1089113_0001654954-25-011919_a9139d.htm:0]**

HSBC Holdings plc announces share repurchases on October 17, 2025

- HSBC Holdings plc purchased **7,736,486** ordinary shares on UK Venues at a volume weighted average price of **£9.8750** per share on **October 16, 2025**, as part of its buy-back program.  **[1089113_0001654954-25-011888_a7415d.htm:0]** 
- On the same date, the company also repurchased **2,094,800** ordinary shares on the Hong Kong Stock Exchange at a volume weighted average price of **HK$102.2585** per share.  **[1089113_0001654954-25-011888_a7415d.htm:0]** 
- Since the buy-back commenced on **July 31, 2025**, HSBC has repurchased a total of **216,534,713** ordinary shares for an approximate total consideration of **US$2,852.6 million**.  **[1089113_0001654954-25-011888_a7415d.htm:0]** 
- Following the cancellation of shares repurchased on UK Venues, the company's issued ordinary share capital will consist of **17,206,914,075** ordinary shares with voting rights.  **[1089113_0001654954-25-011888_a7415d.htm:0]**

HSBC HOLDINGS (HSBC)