7 March 2025
HSBC HOLDINGS PLC
GROUP REPORTING CHANGES
HSBC has today published details of the
previously announced changes to its segmental reporting, which are
effective from 1 January 2025.
In advance of the publication of HSBC Holdings
plc's 1Q 2025 Earnings Release, the attached data pack presents the
impact on the previously reported financial information of HSBC
Holdings plc and its consolidated subsidiary undertakings (the
'Group') for each quarter in the years 2023 and 2024, and the full
years 2023 and 2024, of the organisational changes outlined in the
announcement on 22 October 2024, the details of which are set out
on page 103 of the HSBC Holdings plc Annual Report and Accounts
2024.
A copy of the data pack is also available to
view and download at:
https://www.hsbc.com/investors/results-and-announcements/all-reporting
http://www.rns-pdf.londonstockexchange.com/rns/8088Z_1-2025-3-7.pdf
Effective from 1 January 2025, the Group's
reporting segments under IFRS 8 'Operating Segments' comprise four
businesses along with Corporate Centre:
· Hong
Kong;
· UK;
· Corporate and Institutional Banking ('CIB'); and
· International Wealth and Premier Banking ('IWPB').
These replace our previously reported operating
segments up to 31 December 2024.
The Hong Kong business comprises Personal
Banking and Commercial Banking of HSBC Hong Kong and Hang Seng
Bank.
The UK business comprises UK Personal Banking
(including first direct and M&S Bank) and UK Commercial Banking
including HSBC Innovation Bank.
CIB is formed from the integration of our
Commercial Banking business (outside the UK and Hong Kong) with our
Global Banking and Markets business.
IWPB comprises Premier banking outside of Hong
Kong and the UK, our Global Private Bank, and our wealth
manufacturing businesses of Asset Management and
Insurance.
The data pack provides a re-presented view, for
illustrative purposes only, of selected financial information for
the four businesses and Corporate Centre for (i) all quarters in
2023 and 2024, and (ii) the full years 2023 and 2024, to align with
the Group's operating segments effective from 1 January 2025. This
re-presentation has no impact on and does not change the
consolidated financial results or financial position of the Group.
No additional adjustments have been made to this information other
than to reflect the presentation of the Group's new operating
segments and all data presented is unaudited.
The Group's reported results are prepared in
accordance with International Financial Reporting Standards
('IFRSs'), as detailed in the HSBC Holdings plc Annual Report and
Accounts 2024. To measure performance, the Group also uses non-GAAP
financial measures, including those derived from reported results
that eliminate foreign currency translation differences between
periods.
Constant currency performance is computed by
adjusting comparative period reported results for the effects of
foreign currency translation differences, which distort
period-on-period comparisons.
The Group considers that constant currency
performance provides useful information for investors by aligning
internal and external reporting, and reflects how management
assesses period-on-period performance.
Investor
enquiries to:
Neil Sankoff, Global Head of Investor
Relations, +44 (0) 20 7991 5072
Yafei Tian, Head of Investor Relations,
Asia-Pacific, +852 2899 8909
Media
enquiries to:
pressoffice@hsbc.com
+44 (0) 20 7991 8096
Note to editors:
HSBC Holdings plc
HSBC Holdings plc, the parent
company of HSBC, is headquartered in London. HSBC serves customers
worldwide from offices in 58 countries and territories. With
assets of US$3,017bn at 31 December 2024, HSBC is one of
the world's largest banking and financial services
organisations.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This announcement contains both
historical and forward-looking statements. All statements other
than statements of historical fact are, or may be deemed to be,
forward-looking statements. Forward-looking statements may be
identified by the use of terms such as 'may,' 'intends,' 'plan,'
'will,' 'should,' 'potential,' 'reasonably possible' or
'anticipates' or the negative thereof or similar expressions, or by
discussions of strategy. The Group has based the forward-looking
statements on current expectations and projections about future
events. These forward-looking statements are subject to risks,
uncertainties and assumptions about the Group, as described under
'Cautionary statement regarding forward-looking statements'
contained in the HSBC Holdings plc Annual Report on Form 20-F for
the year ended 31 December 2024, filed with the Securities and
Exchange Commission ('SEC') on [20] February 2025 (the '2024 Form
20-F'). The Group undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. In light of these risks,
uncertainties and assumptions, the forward-looking events discussed
herein might not occur. Investors are cautioned not to place undue
reliance on any forward-looking statements, which speak only as of
their dates. Additional information, including information on
factors which may affect the Group's business, is contained in the
2024 Form 20-F.
Alternative Performance Measures
This announcement and the materials
referred to herein contain non-IFRS measures used by management
internally that constitute alternative performance measures under
European Securities and Markets Authority guidance and non-GAAP
financial measures defined in and presented in accordance with SEC
rules and regulations ("Alternative Performance Measures"). The
primary Alternative Performance Measures we use are presented on a
"constant currency" basis which is computed by adjusting
comparative period reported results for the effects of foreign
currency translation differences, which distort period-on-period
comparisons. Reconciliations between Alternative Performance
Measures and the most directly comparable measures under IFRS are
provided in our 2024 Form 20-F, which is available at
www.hsbc.com.
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