HSBC : 1Q 2021 Data Pack (PDF)

HSBC HOLDINGS PLC

Data Pack

1Q 2021

The financial information on which this supplement is based is unaudited and has been prepared in accordance with HSBC's significant accounting policies as described in the Annual Report and Accounts 2020. The financial information does not constitute financial statements prepared in accordance with International Financial Reporting Standards ('IFRSs'), is not complete and should be read in conjunction with the Annual Report and Accounts 2020, the Earnings Release 1Q21, and other reports and financial information published by HSBC.

Unless stated otherwise, all information is on a reported basis. Where disclosed, adjusted performance information is computed by adjusting reported results for the effects of foreign currency translation differences and significant items, which both distort period‐on‐period comparisons. We consider adjusted performance provides useful information for investors by aligning internal and external reporting, identifying and quantifying items management believes to be significant, and providing insight into how management assesses period‐on‐period performance. Definitions and calculations of other alternative performance measures are included in our 'Reconciliation of alternative performance measures' on page 103 of our Annual Report and Accounts 2020 . All alternative performance measures are reconciled to the closest reported financial measure.

'Significant items' refers collectively to the items that management and investors would ordinarily identify and consider separately to improve the understanding of the underlying trends in the business.

The quarterly comparatives are translated at average 1Q21 exchange rates for the income statement or at the prevailing rates of exchange on 31 March 2021 for the balance sheet. The yearly comparatives are translated at average FY20 exchange rates for the income statement or at the prevailing rates of exchange on 31 December 2020 for the balance sheet.

	Index
	Page
HSBC Holdings plc (Group) ‐ Income statement	1
HSBC Holdings plc (Group) ‐ Balance sheet data	3
HSBC Holdings plc (Group) ‐ Net interest margin	7
Global businesses
Wealth and Personal Banking ‐ WPB	8
Commercial Banking ‐ CMB	11
Global Banking and Markets ‐ GBM	14
Corporate Centre	17
Geographical regions / countries / territory
Europe	20
Europe ‐ HSBC UK (UK ring‐fenced bank)	30
Europe ‐ HSBC Bank (non UK ring‐fenced bank)	40
Europe ‐ other	50
Asia	60
Hong Kong	70
Mainland China	80
Middle East and North Africa ‐ MENA	90
North America	100
US	110
Latin America	120
Mexico	129
Credit risk	139

HSBC

HSBC Holdings plc consolidated

			Quarter ended				Year to date
Reported ($m)	31‐Mar‐21	31‐Dec‐20	30‐Sep‐20	30‐Jun‐20	31‐Mar‐20		31‐Dec‐20
Net interest income	6,514	6,619	6,450	6,897	7,612	27,578
Net fee income	3,463	2,967	2,981	2,803	3,123	11,874
Other operating income	3,009	2,171	2,496	3,359	2,951	10,977
Net operating income before change in expected credit losses and other credit impairment charges1	12,986	11,757	11,927	13,059	13,686		50,429
Change in expected credit losses and other credit impairment charges	435	(1,174)	(785)	(3,832)	(3,026)	(8,817)
Total operating expenses1	(8,527)	(9,864)	(8,041)	(8,675)	(7,852)	(34,432)
of which: staff expenses	(4,921)	(5,079)	(4,483)	(4,206)	(4,308)	(18,076)
Share of profit in associates and joint ventures	885	666	(27)	537	421	1,597
Profit/(loss) before tax	5,779	1,385	3,074	1,089	3,229		8,777
Tax expense	(1,211)	(450)	(1,035)	(472)	(721)	(2,678)
Profit/(loss) after tax	4,568	935	2,039	617	2,508	6,099
Profit/(loss) attributable to:
‐ ordinary shareholders of the parent company ("PAOS")	3,880	562	1,359	192	1,785	3,898
‐ preference shareholders of the parent company	7	23	22	23	22	90
‐ other equity holders of the parent company	454	175	449	176	441	1,241
‐ non‐controlling interests	227	175	209	226	260	870
(Increase)/decrease in present value of in‐force insurance business ("PVIF") (net of tax)	60	309	(252)	(56)	(254)	(253)
Impairment of goodwill and other intangible assets (net of tax)	-	(120)	2	1,154	-	1,036
PAOS net of PVIF and goodwill impairment	3,940	751	1,109	1,290	1,531	4,681
Reported significant items ‐ Totals ($m)
Revenue	(287)	(67)	(138)	(91)	359	63
ECL	-	-	-	-	-		-
Operating expenses	(324)	(758)	(630)	(1,413)	(172)	(2,973)
Share of profit in associates and joint ventures	-	-	(462)	-	-	(462)
Adjusted ($m)
Net operating income before change in expected credit losses and other credit impairment charges1	13,273	12,025	12,453	13,838	13,713	50,366
of which: net interest income	6,496	6,718	6,691	7,204	7,817	27,599
of which: net fee income	3,463	3,000	3,049	2,931	3,226	11,874
Change in expected credit losses and other credit impairment charges	435	(1,201)	(819)	(4,134)	(3,117)	(8,817)
Total operating expenses1	(8,203)	(9,255)	(7,663)	(7,689)	(7,983)	(31,459)
Share of profit in associates and joint ventures	885	679	458	596	450	2,059
Profit/(loss) before tax	6,390	2,248	4,429	2,611	3,063	12,149

1

HSBC

HSBC Holdings plc consolidated

			Quarter ended				Year to date
Earnings metrics	31‐Mar‐21	31‐Dec‐20	30‐Sep‐20	30‐Jun‐20	31‐Mar‐20		31‐Dec‐20
Return on average equity (annualised)	9.0 %	1.3 %	3.2 %	0.5 %	4.4 %	2.3 %
Return on average tangible equity (annualised)	10.2 %	1.9 %	2.9 %	3.5 %	4.2 %	3.1 %
Earnings per share ($)	0.19	0.03	0.07	0.01	0.09	0.19
Adjusted ECL / average gross loans (annualised)	(0.17)%	0.45 %	0.30 %	1.51 %	1.15 %	0.81 %
Dividends
Dividends per share ‐ declared in respect of the period ($)	-	0.15	-	-	-	0.15
Dividends paid during the period, net of scrip ($m)	-	-	-	-	-		-
Value of scrip issued during period ($m)	-	-	-	-	-		-
Revenue significant items ($m)
Customer redress programmes	18	1	(48)	26	-	(21)
Disposals, acquisitions and investment in new businesses	-	(2)	-	(1)	(7)	(10)
Fair value movements on financial instruments	(239)	(46)	11	(58)	357	264
Restructuring and other related costs	(66)	(20)	(101)	(58)	9	(170)
Cost significant items ($m)
Costs of structural reform	-	-	-	-	-		-
Customer redress programmes	10	107	(3)	(49)	(1)	54
Disposals, acquisitions and investment in new businesses	-	-	-	-	-		-
Impairment of goodwill and other intangibles	-	(8)	(57)	(1,025)	-	(1,090)
Past service costs of guaranteed minimum pension benefits equalisation	-	(17)	-	-	-	(17)
Restructuring and other related costs	(334)	(836)	(567)	(335)	(170)	(1,908)
Settlements and provisions in connection with legal and regulatory matters	-	(4)	(3)	(4)	(1)	(12)
Share of profit in associates and joint ventures significant items ($m)
Impairment of goodwill	-	-	(462)	-	-	(462)
Reconciling items ‐ Currency translation on reported items‐ Totals ($m)
Revenue		204	382	679	393
ECL		(27)	(34)	(302)	(91)
Operating expenses		(165)	(268)	(536)	(307)
Share of profit in associates and joint ventures		13	23	59	29
Currency translation on revenue significant items		3	(6)	(9)	7
Currency translation on operating expense significant items		(16)	(16)	(109)	(4)
Currency translation on share of profit in associates and joint ventures significant items		-	-	-	-

1 The difference between the consolidated group result and the sum of geographical regions is attributable to inter‐segment eliminations and goodwill impairment recognised on the Global Banking and Markets cash‐generating unit, which is monitored on a global basis.

2

HSBC

HSBC Holdings plc consolidated

			Balance sheet date				Balance sheet date
Assets ‐ reported ($m)	31‐Mar‐21	31‐Dec‐20	30‐Sep‐20	30‐Jun‐20	31‐Mar‐20		31‐Dec‐20
Cash and balances at central banks	384,448	304,481	285,508	249,673	187,386	304,481
Items in the course of collection from other banks	5,162	4,094	6,165	6,289	4,649	4,094
Hong Kong Government certificates of indebtedness	41,020	40,420	40,086	39,519	38,704	40,420
Trading assets	249,031	231,990	222,355	208,964	215,634	231,990
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss	46,829	45,553	44,253	41,785	40,650	45,553
Derivatives	241,048	307,726	294,678	313,781	371,283	307,726
Loans and advances to banks	83,873	81,616	83,854	77,015	84,547	81,616
Loans and advances to customers (net)	1,040,207	1,037,987	1,041,340	1,018,681	1,040,282	1,037,987
Reverse repurchase agreements - non‐trading	190,260	230,628	221,179	226,345	222,774	230,628
Financial investments	451,207	490,693	475,302	494,109	446,668	490,693
Prepayments, accrued income and other assets	172,708	156,412	191,040	197,425	216,224	156,412
Current tax assets	568	954	734	821	740	954
Interests in associates and joint ventures	27,543	26,684	25,087	24,800	24,547	26,684
Goodwill and intangible assets	20,275	20,443	20,162	19,438	20,146	20,443
Deferred tax assets	4,450	4,483	4,192	4,153	3,576	4,483
Total assets	2,958,629	2,984,164	2,955,935	2,922,798	2,917,810	2,984,164
Liabilities ‐ reported ($m)
Hong Kong currency notes in circulation	41,020	40,420	40,086	39,519	38,704	40,420
Deposits by banks	86,743	82,080	91,739	82,715	75,504	82,080
Customer accounts	1,650,019	1,642,780	1,568,714	1,532,380	1,440,529	1,642,780
Repurchase agreements ‐ non‐trading	107,896	111,901	118,844	112,799	150,243	111,901
Items in the course of transmission to other banks	6,540	4,343	14,389	6,296	4,710	4,343
Trading liabilities	85,755	75,266	80,338	79,612	74,410	75,266
Financial liabilities designated at fair value	151,673	157,439	156,459	156,608	155,184	157,439
Derivatives	229,599	303,001	285,239	303,059	356,616	303,001
Debt securities in issue	96,039	95,492	102,406	110,114	99,410	95,492
Accruals, deferred income and other liabilities	159,246	128,624	163,912	173,181	196,244	128,624
Current tax liabilities	681	690	1,274	1,141	914	690
Liabilities under insurance contracts	107,910	107,191	102,708	98,832	94,979	107,191
Provisions	3,168	3,678	3,297	3,209	3,190	3,678
Deferred tax liabilities	3,807	4,313	4,490	4,491	5,262	4,313
Subordinated liabilities	20,817	21,951	21,779	23,621	23,640	21,951
Total liabilities	2,750,913	2,779,169	2,755,674	2,727,577	2,719,539	2,779,169

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