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HSBC Holdings — 4Q 2025 Data Pack (PDF) (company IR deck)
HSBC Holdings (HSBC) · 61 slides · Filed Oct 21, 2026
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Slide 1 — HSBC HOLDINGS PLC
HSBC HOLDINGS PLC Data Pack 4Q 2025 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 2025. The financial information does not constitute financial statements prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board ('IFRS Accounting Standards'), is not complete and should be read in conjunction with the Annual Report and Accounts 2025, the Interim Report 2025, and other reports and financial information published by HSBC. Unless stated otherwise, all information is on a reported basis. Constant currency performance is computed by adjusting reported results for the effects of foreign currency translation differences, which distort year-on-year comparisons. It is computed by retranslating into US dollars for non-US dollar branches, subsidiaries, joint ventures and associates: the reported income statements of comparative periods at the average rates of exchange for the most recent period; and the reported balance sheets of comparative periods at the prevailing rates of exchange on 31 December 2025. We consider constant currency performance to provide useful information for investors by aligning internal and external reporting, and reflecting how management assesses year-on-year performance. Definitions and calculations of other alternative performance measures are included in our 'Alternative performance measures' on page 92 of our Annual Report and Accounts 2025. Alternative performance measures are reconciled to the closest reported financial measure. We separately disclose 'notable items', which are components of our income statement which management would consider as outside the normal course of business and generally non-recurring in nature. The quarterly comparatives are translated at average 4Q25 exchange rates for the income statement or at the prevailing rates of exchange on 31 December 2025 for the balance sheet. The income statement for the 12 months to 31 December 2024 is translated at the average rate of exchange for the 12 months to 31 December 2025. Effective from 1 January 2025, the Group's reporting segments under IFRS 8 'Operating Segments' comprise four businesses along with Corporate Centre: 1.Hong Kong 2.UK 3.Corporate and Institutional Banking 4.International Wealth and Premier Banking These replace our previously reported operating segments up to 31 December 2024. Registered office and Group Head office: 8 Canada Square , London, E14 5HQ, United Kingdom Web: www.hsbc.com Incorporated in England and Wales with limited liability. Registration number 617987
Slide 2 — Index
Index Page 1 3 5 7 Hong Kong 8 UK 10 Corporate and Institutional Banking ('CIB') 12 International Wealth and Premier Banking ('IWPB') 14 Corporate Centre 16 HSBC UK Bank plc 18 HSBC Bank plc 24 The Hongkong and Shanghai Banking Corporation Limited 28 The Hongkong and Shanghai Banking Corporation Limited (Hong Kong) 34 HSBC North America Holdings Inc. 40 HSBC Bank Canada 44 Grupo Financiero HSBC, S.A. de C.V. 48 HSBC Bank Middle East Limited 52 Other trading entities 56 57 Legal entities Credit risk HSBC Holdings plc (Group) - Income statement HSBC Holdings plc (Group) - Management view of revenue ('MVOI') HSBC Holdings plc (Group) - Balance sheet data Businesses HSBC Holdings plc (Group) - Net interest margin ('NIM')
Slide 3 — HSBC
HSBC HSBC Holdings plc consolidated income statement Reported ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Net interest income 9,196 8,777 8,519 8,302 8,185 34,794 32,733 Net fee income 3,194 3,506 3,319 3,324 2,979 13,343 12,301 Other operating income 3,974 5,505 4,635 6,023 400 20,137 20,820 Net operating income before change in expected credit losses and other credit impairment charges ('Revenue') 16,364 17,788 16,473 17,649 11,564 68,274 65,854 Change in expected credit losses and other credit impairment charges ('ECL') (901) (1,008) (1,065) (876) (1,362) (3,850) (3,414) Total operating expenses (9,330) (10,076) (8,920) (8,102) (8,604) (36,428) (33,043) Share of profit in associates and joint ventures less impairment 669 591 (162) 813 679 1,911 2,912 Profit/(loss) before tax 6,802 7,295 6,326 9,484 2,277 29,907 32,309 Tax credit/(charge) (1,615) (1,792) (1,455) (1,914) (1,692) (6,776) (7,310) Profit/(loss) after tax 5,187 5,503 4,871 7,570 585 23,131 24,999 Profit/(loss) attributable to: - ordinary shareholders of the parent company ('PAOS') 4,719 4,873 4,578 6,932 197 21,102 22,917 - other equity holders of the parent company 225 411 155 392 154 1,183 1,062 - non-controlling interests 243 219 138 246 234 846 1,020 Impairment of goodwill and other intangible assets (net of tax) 80 40 24 — 4 144 118 PAOS net of goodwill impairment 4,799 4,913 4,602 6,932 201 21,246 23,035 Constant currency ($m) Revenue 16,364 17,722 16,472 18,201 11,780 68,274 66,009 ECL (901) (1,010) (1,079) (913) (1,405) (3,850) (3,392) Total operating expenses (9,330) (10,015) (8,956) (8,383) (8,742) (36,428) (33,146) Share of profit in associates and joint ventures less impairment 669 594 (171) 829 687 1,911 2,913 Profit/(loss) before tax 6,802 7,291 6,266 9,734 2,320 29,907 32,384 Constant currency revenue excluding notable items 17,723 17,834 17,677 18,293 16,717 71,020 67,591 Constant currency profit before tax excluding notable items 8,586 9,077 9,148 10,027 7,355 36,617 34,181 Notable items (reported) ($m) Notable items Revenue (1,359) (112) (1,184) (91) (4,940) (2,746) (1,580) of which: Banking net interest income — — — — 46 — (237) of which: Fee and other income (1,359) (112) (1,184) (91) (4,986) (2,746) (1,343) ECL — — — — — — — Operating expenses (425) (1,696) (652) (191) (106) (2,964) (233) Impairment losses of interest in BoCom associate — — (1,000) — — (1,000) — Notable items (constant currency) ($m) Notable items Revenue (1,359) (112) (1,205) (92) (4,937) (2,746) (1,582) of which: Banking net interest income — — — — 46 — (237) of which: Fee and other income (1,359) (112) (1,205) (92) (4,983) (2,746) (1,345) ECL — — — — — — — Operating expenses (425) (1,674) (656) (201) (98) (2,964) (215) Impairment losses of interest in BoCom associate — — (1,021) — — (1,000) — Quarter ended Year to date 1
Slide 4 — HSBC
HSBC HSBC Holdings plc consolidated income statement Earnings metrics 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Return on average equity (annualised) 10.8% 11.3 % 10.7 % 16.6 % 0.5 % 12.3 % 13.6 % Return on average tangible equity (annualised) 11.8% 12.3 % 11.5 % 17.9 % 0.5 % 13.3 % 14.6 % Return on average tangible equity excluding notable items (annualised)1 15.9% 16.6 % 17.8 % 18.4 % 13.2 % 17.2 % 15.6 % Earnings per share ($) 0.28 0.28 0.26 0.39 0.01 1.21 1.25 Earnings per share excluding material notable items and related impacts ($) 0.37 0.36 0.39 0.39 0.29 1.51 1.31 Constant currency ECL / average gross loans (annualised) 0.36 % 0.40 % 0.44 % 0.38 % 0.57 % 0.39 % 0.35 % Dividends Dividends per share - declared in respect of the period ($) 0.45 0.10 0.10 0.10 0.36 0.75 0.66 Revenue notable items ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Total (1,359) (112) (1,184) (91) (4,940) (2,746) (1,580) – Disposals, wind-downs, acquisitions and related costs (1,359) (144) (48) (91) (4,986) (1,642) (1,343) – Early redemption of legacy securities — — — — 46 — (237) – Dilution loss of interest in BoCom associate — 32 (1,136) — — (1,104) — Cost notable items ($m) Total (425) (1,696) (652) (191) (106) (2,964) (233) – Disposals, wind-downs, acquisitions and related costs (157) (118) (177) (50) (50) (502) (199) – Restructuring and other related costs (257) (157) (475) (141) (56) (1,030) (34) – Legal provision (11) (1,421) — — — (1,432) — Impairment losses of interest in BoCom associate ($m) — — (1,000) — — (1,000) — 1 We have revised the adjustments made to average tangible equity for the purposes of computing our return on average tangible equity (‘RoTE’) excluding notable items measure. Prior to this, we adjusted average tangible equity for the average impact of notable items whereas from 2025 we no longer make adjustments to average tangible equity. Comparatives have been re-presented on the revised basis. Quarter ended Year to date Quarter ended Year to date 2
Slide 5 — HSBC
HSBC HSBC Holdings plc consolidated balance sheet data Assets (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Cash and balances at central banks 242,859 246,821 246,360 254,660 267,674 Hong Kong Government certificates of indebtedness 44,063 43,549 42,592 42,293 42,293 Trading assets 366,153 357,418 333,745 318,579 314,842 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 133,063 134,408 128,942 120,340 115,769 Derivatives 237,740 213,903 249,672 214,148 268,637 Loans and advances to banks 108,462 105,202 107,582 100,843 102,039 Loans and advances to customers (net) 988,399 982,886 981,722 944,708 930,658 Reverse repurchase agreements – non-trading 298,392 278,615 283,204 278,216 252,549 Financial investments 567,211 563,159 547,955 522,298 493,166 Prepayments, accrued income and other assets1 195,909 258,646 243,348 208,388 179,974 Current tax assets 864 743 1,364 1,270 1,313 Interests in associates and joint ventures 29,577 28,829 28,202 29,485 28,909 Goodwill and intangible assets 13,107 13,011 13,022 12,436 12,384 Deferred tax assets 7,235 7,033 6,661 6,697 6,841 Total assets 3,233,034 3,234,223 3,214,371 3,054,361 3,017,048 Liabilities (reported) ($m) Hong Kong currency notes in circulation 44,063 43,549 42,592 42,293 42,293 Deposits by banks 97,952 98,126 97,782 88,186 73,997 Customer accounts 1,786,828 1,737,247 1,718,604 1,666,485 1,654,955 Repurchase agreements – non-trading 204,974 215,308 195,532 197,979 180,880 Trading liabilities 72,122 73,182 70,653 72,402 65,982 Financial liabilities designated at fair value 158,456 162,914 163,589 149,195 138,727 Derivatives 237,854 217,438 257,601 212,584 264,448 Debt securities in issue 99,675 98,240 102,129 100,051 105,785 Accruals, deferred income and other liabilities2 165,505 232,181 213,227 181,388 159,351 Current tax liabilities 3,037 3,693 3,232 2,696 1,729 Insurance contract liabilities 122,955 120,169 118,297 112,541 107,629 Provisions 3,441 3,434 2,125 1,727 1,724 Deferred tax liabilities 2,100 1,540 1,570 1,418 1,317 Subordinated liabilities 28,406 28,514 27,569 27,299 25,958 Total liabilities 3,027,368 3,035,535 3,014,502 2,856,244 2,824,775 Equity (reported) ($m) Called up share capital 8,588 8,630 8,739 8,874 8,973 Share premium account 111 110 14,918 14,917 14,810 Other equity instruments 20,716 20,716 20,716 18,719 19,070 Other reserves (795) (4,341) (1,556) (8,401) (10,282) Retained earnings 169,605 166,315 149,737 156,701 152,402 Total shareholders' equity 198,225 191,430 192,554 190,810 184,973 Non-controlling interests 7,441 7,258 7,315 7,307 7,300 Total equity 205,666 198,688 199,869 198,117 192,273 Total liabilities and equity 3,233,034 3,234,223 3,214,371 3,054,361 3,017,048 Other balance sheet data (reported) ($m) Loans and advances to customers (gross) 999,091 993,394 991,865 954,802 940,373 Risk-weighted assets 888,647 878,793 886,860 853,257 838,254 Total shareholders' equity 198,225 191,430 192,554 190,810 184,973 AT1 capital (20,716) (20,716) (20,716) (18,719) (19,070) Preference shares — — — — — Perpetual capital securities — — — — — Ordinary shareholders' equity ('NAV') 177,509 170,714 171,838 172,091 165,903 Goodwill and other intangibles (net of deferred tax) (12,356) (12,263) (12,281) (11,693) (11,608) Tangible equity ('TNAV') 165,153 158,451 159,557 160,398 154,295 Balance sheet date 3
Slide 6 — HSBC
HSBC HSBC Holdings plc consolidated balance sheet data 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Average TNAV 161,803 159,004 159,977 157,348 158,088 Balance sheet (constant currency) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to customers (net) 988,399 983,088 977,497 972,236 970,778 Customer accounts 1,786,828 1,737,241 1,711,741 1,709,754 1,719,240 Risk-weighted assets 888,647 879,307 884,688 872,562 865,484 Regulatory capital (end-point basis, reported) ($m) Common equity tier 1 capital 132,593 127,765 129,819 125,477 124,911 Additional tier 1 capital 20,804 20,790 20,800 18,811 19,216 Tier 2 capital 28,974 29,174 27,877 25,526 24,401 Total regulatory capital 182,371 177,729 178,496 169,814 168,528 Capital ratios (end-point basis, reported) Common equity tier 1 ratio 14.9 % 14.5 % 14.6 % 14.7 % 14.9 % Tier 1 ratio 17.3 % 16.9 % 17.0 % 16.9 % 17.2 % Total capital ratio 20.5 % 20.2 % 20.1 % 19.9 % 20.1 % Leverage exposures ($m) 2,877,070 2,840,483 2,792,934 2,651,983 2,571,071 Leverage Ratio 5.3 % 5.2 % 5.4 % 5.4 % 5.6 % NAV / share ($) at the end of the period 10.36 9.94 % 9.88 % 9.74 % 9.26 % TNAV / share ($) at the end of the period 9.64 9.22 % 9.17 % 9.08 % 8.61 % Ordinary $0.50 shares Basic number of ordinary shares in issue, after deducting own shares held (m) 17,140 17,183 17,397 17,668 17,918 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Ordinary shares issued during the period (m) 0.1 0.2 — 9.7 0.1 Shares bought back and cancelled during the period3 (m) (84) (219) (271) (208) (331) Other movements in basic number of ordinary shares during the period4 (m) 41 5 — (52) 267 Average basic number of ordinary shares outstanding during the period, after deducting own shares held (m) 17,136 17,297 17,528 17,769 18,042 2 Includes 'Liabilities of disposal groups held for sale' of $23,382m. 3 Includes shares cancelled during the period that were originally bought back in prior periods. 4 Includes movements in own shares held. Quarter ended Balance sheet date Quarter ended 1 Includes 'Assets held for sale' of $11,115m. 4
Slide 7 — HSBC
HSBC Group Management View of Revenue Group Management View of Revenue (original FX rates) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII1 11,722 11,049 10,714 10,599 10,904 44,084 43,975 Fee and other income 6,001 6,851 6,943 7,141 5,600 26,936 23,459 – Wholesale Transaction Banking 2,615 2,608 2,786 2,851 2,533 10,860 10,433 of which: Global Foreign Exchange 1,321 1,277 1,494 1,602 1,285 5,694 5,445 of which: Global Payments Solutions 587 586 576 545 554 2,294 2,236 of which: Global Trade Solutions 347 370 370 375 362 1,462 1,460 of which: Securities Services 360 375 346 329 332 1,410 1,292 – Wealth 2,145 2,681 2,274 2,290 1,758 9,390 7,559 of which: Investment Distribution 806 1,039 877 902 703 3,624 2,852 of which: Insurance1 580 846 632 541 388 2,599 1,921 of which: Asset Management 406 387 357 350 349 1,500 1,367 of which: Private Bank 353 409 408 497 318 1,667 1,419 – Investment Banking, Debt and Equity Markets 590 591 796 1,268 735 3,245 3,148 – Retail Banking 299 323 322 302 333 1,246 1,371 – Wholesale Credit and Lending 224 227 209 223 226 883 912 – Other2 128 421 556 207 15 1,312 36 Revenue excluding notable items 17,723 17,900 17,657 17,740 16,504 71,020 67,434 Notable items (1,359) (112) (1,184) (91) (4,940) (2,746) (1,580) Revenue 16,364 17,788 16,473 17,649 11,564 68,274 65,854 Total revenue excluding notable items – of which: Wholesale Transaction Banking 6,777 6,413 6,543 6,689 6,515 26,422 26,306 of which: Global Payments Solutions 4,137 3,894 3,809 3,873 4,051 15,713 16,377 of which: Global Trade Solutions 668 688 681 695 682 2,732 2,684 – of which: Wealth 2,481 3,008 2,590 2,607 2,062 10,686 8,758 of which: Private Bank 669 713 709 797 616 2,888 2,612 Group Management View of Revenue (constant currency) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII1 11,722 11,015 10,767 10,927 11,040 44,084 43,785 Fee and other income 6,001 6,819 6,910 7,366 5,677 26,936 23,806 – Wholesale Transaction Banking 2,615 2,597 2,790 2,932 2,578 10,860 10,468 of which: Global Foreign Exchange 1,321 1,272 1,492 1,643 1,304 5,694 5,441 of which: Global Payments Solutions 587 583 578 565 568 2,294 2,261 of which: Global Trade Solutions 347 369 373 385 367 1,462 1,457 of which: Securities Services 360 373 347 339 339 1,410 1,309 – Wealth 2,145 2,679 2,285 2,340 1,781 9,390 7,586 of which: Investment Distribution 806 1,040 879 916 710 3,624 2,857 of which: Insurance1 580 846 637 552 389 2,599 1,913 of which: Asset Management 406 385 357 361 355 1,500 1,373 of which: Private Bank 353 408 412 511 327 1,667 1,443 – Investment Banking, Debt and Equity Markets 590 590 800 1,309 749 3,245 3,198 – Retail Banking 299 324 328 316 341 1,246 1,350 – Wholesale Credit and Lending 224 225 212 232 232 883 925 – Other2 128 404 495 237 (4) 1,312 279 Revenue excluding notable items 17,723 17,834 17,677 18,293 16,717 71,020 67,591 Notable items (1,359) (112) (1,205) (92) (4,937) (2,746) (1,582) Revenue 16,364 17,722 16,472 18,201 11,780 68,274 66,009 Total revenue excluding notable items – of which: Wholesale Transaction Banking 6,777 6,387 6,564 6,873 6,618 26,422 26,392 of which: Global Payments Solutions 4,137 3,880 3,823 3,984 4,112 15,713 16,429 of which: Global Trade Solutions 668 686 685 713 691 2,732 2,678 – of which: Wealth 2,481 3,007 2,603 2,668 2,113 10,686 8,888 of which: Private Bank 669 712 713 822 633 2,888 2,657 Quarter ended Quarter ended Year to date Year to date 5
Slide 8 — HSBC
HSBC Group Management View of Revenue Banking net interest income (original FX rates) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Net interest income 9,196 8,777 8,519 8,302 8,185 34,794 32,733 Banking book funding costs used to generate 'net income from financial instruments held for trading or managed on a fair value basis' 2,592 2,384 2,307 2,403 2,874 9,686 11,434 Third-party net interest income from insurance (66) (112) (112) (106) (109) (396) (429) Banking net interest income 11,722 11,049 10,714 10,599 10,950 44,084 43,738 Banking net interest income (constant currency) ($m) Net interest income 9,196 8,751 8,567 8,571 8,281 34,794 32,455 Banking book funding costs used to generate 'net income from financial instruments held for trading or managed on a fair value basis' 2,592 2,376 2,315 2,468 2,920 9,686 11,534 Third-party net interest income from insurance (66) (112) (115) (112) (115) (396) (439) Banking net interest income 11,722 11,015 10,767 10,927 11,086 44,084 43,550 Banking net interest income by legal entity (original FX rates) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 The HongKong and Shanghai Banking Corporation Limited 5,710 5,351 5,176 5,439 5,464 21,676 21,691 HSBC UK Bank plc 3,046 2,969 2,846 2,662 2,663 11,523 10,368 HSBC Bank plc 1,477 1,351 1,325 1,104 1,182 5,257 4,630 Other legal entities 1,489 1,378 1,367 1,394 1,641 5,628 7,049 Total banking net interest income 11,722 11,049 10,714 10,599 10,950 44,084 43,738 Banking net interest income by legal entity (constant currency) ($m) The HongKong and Shanghai Banking Corporation Limited 5,710 5,356 5,187 5,475 5,464 21,676 21,685 HSBC UK Bank plc 3,046 2,927 2,833 2,810 2,761 11,523 10,696 HSBC Bank plc 1,477 1,341 1,336 1,185 1,248 5,257 4,797 Other legal entities 1,489 1,391 1,411 1,457 1,613 5,628 6,372 Total banking net interest income 11,722 11,015 10,767 10,927 11,086 44,084 43,550 1 Banking NII for IWPB is computed by deducting third party net interest income ('NII') in our insurance business from total IWPB NII. Total insurance NII is presented in 'fee and other income' in Insurance in our Group Management View of Revenue. 2 'Other' includes revenue from Markets Treasury and hyperinflationary impacts. It also includes other non-product-specific income, and notional tax credits. Quarter ended Year to date Year to date Quarter ended 6
Slide 9 — HSBC
HSBC HSBC Holdings plc Net Interest Margin Average balances during period ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Short-term funds and loans and advances to banks 317,912 316,852 328,935 339,797 350,169 325,790 349,517 Loans and advances to customers 988,965 983,604 974,198 939,779 952,357 971,804 949,825 Reverse repurchase agreements – non-trading 287,302 280,681 275,219 252,099 246,018 273,941 238,694 Financial investments 554,175 553,675 535,875 512,079 494,185 539,107 470,182 Other interest-earning assets 72,700 83,660 81,017 80,407 70,547 79,436 91,067 Total interest-earning assets 2,221,054 2,218,472 2,195,244 2,124,161 2,113,276 2,190,078 2,099,285 Interest income during period ($m) Short-term funds and loans and advances to banks 2,685 2,733 2,852 3,190 3,483 11,460 14,727 Loans and advances to customers 11,460 11,510 11,599 11,467 12,139 46,036 49,879 Reverse repurchase agreements – non-trading 4,353 4,229 4,158 3,876 4,237 16,616 17,721 Financial investments 5,258 5,165 5,262 5,145 5,145 20,830 20,587 Other interest-earning assets 747 724 724 735 1,000 2,930 5,717 Total 24,503 24,361 24,595 24,413 26,004 97,872 108,631 Average balances during period ($m) Deposits by banks 77,352 78,274 76,755 71,860 72,979 76,081 66,405 Customer accounts 1,515,315 1,503,972 1,490,291 1,437,508 1,437,420 1,487,032 1,385,840 Repurchase agreements – non-trading 199,654 187,304 186,270 181,580 186,036 188,748 187,337 Debt securities in issue – non-trading 197,015 202,337 199,166 194,683 198,513 198,317 196,440 Other interest-bearing liabilities 86,547 81,825 73,668 68,895 76,557 77,793 84,773 Total interest-bearing liabilities 2,075,883 2,053,712 2,026,150 1,954,526 1,971,505 2,027,971 1,920,795 Non-interest bearing current accounts 224,650 213,356 209,334 210,544 211,804 214,507 220,291 Interest expense during period ($m) Deposits by banks 629 666 678 640 653 2,613 2,930 Customer accounts 7,864 8,124 8,567 8,734 9,725 33,289 40,173 Repurchase agreements – non-trading 3,619 3,405 3,327 3,278 3,715 13,629 15,617 Debt securities in issue – non-trading 2,558 2,733 2,786 2,770 2,922 10,847 12,806 Other interest-bearing liabilities 637 656 718 689 804 2,700 4,372 Total 15,307 15,584 16,076 16,111 17,819 63,078 75,898 Net interest margin (%) 1.64 % 1.57 % 1.56 % 1.59 % 1.54 % 1.59 % 1.56 % Quarter to date Year to date 7
Slide 10 — HSBC
HSBC Hong Kong business Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 4,066 3,964 3,842 4,006 3,820 15,878 15,034 ECL (308) (304) (544) (320) (356) (1,476) (1,076) Total operating expenses (1,307) (1,209) (1,167) (1,143) (1,302) (4,826) (4,837) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax 2,451 2,451 2,131 2,543 2,162 9,576 9,121 Constant currency results ($m) Revenue 4,066 3,986 3,858 4,008 3,819 15,878 15,047 ECL (308) (306) (547) (320) (357) (1,476) (1,077) Total operating expenses (1,307) (1,214) (1,172) (1,144) (1,301) (4,826) (4,841) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax 2,451 2,466 2,139 2,544 2,161 9,576 9,129 Notable items (reported) ($m) Total (6) (1) (2) (7) — (16) — Revenue — — — — — — — ECL — — — — — — — Operating expenses (6) (1) (2) (7) — (16) — Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total (6) (1) (2) (7) — (16) — Revenue — — — — — — — ECL — — — — — — — Operating expenses (6) (1) (2) (7) — (16) — Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 233,389 233,367 233,677 236,455 238,416 Loans and advances to external customers (net) 229,491 229,574 230,139 233,054 235,208 Total external assets 437,934 442,423 433,153 421,940 433,945 External customer accounts 543,381 519,269 517,406 505,334 507,389 Risk-weighted assets 139,628 140,496 140,630 144,929 143,668 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 229,491 229,608 232,173 233,197 235,053 External customer accounts 543,381 519,192 521,891 505,260 506,557 Risk-weighted assets 139,628 140,591 141,935 145,176 143,777 Quarter ended Year to date Balance sheet date 8
Slide 11 — HSBC
HSBC Hong Kong business Management View of Revenue (original FX rates) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII 3,273 2,934 2,835 3,040 3,063 12,082 11,987 Fee and other income 793 1,030 1,007 966 757 3,796 3,047 – Retail Banking and Wealth 548 748 701 661 502 2,658 1,940 – Retail Banking 66 84 89 87 74 326 312 – Wealth 459 646 555 546 416 2,206 1,576 – Other1 23 18 57 28 12 126 52 – Commercial Banking 245 282 306 305 255 1,138 1,107 – Wholesale Transaction Banking 182 187 185 176 179 730 708 – Credit and Lending 18 17 16 27 19 78 83 – Other1 45 78 105 102 57 330 316 – Other 0 0 0 0 0 0 0 Revenue excluding notable items 4,066 3,964 3,842 4,006 3,820 15,878 15,034 Notable items — — — — — — — Revenue 4,066 3,964 3,842 4,006 3,820 15,878 15,034 Management View of Revenue (constant currency) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII 3,273 2,951 2,846 3,042 3,062 12,082 11,997 Fee and other income 793 1,035 1,012 966 757 3,796 3,050 – Retail Banking and Wealth 548 753 704 661 503 2,658 1,941 – Retail Banking 66 85 90 87 74 326 312 – Wealth 459 650 557 546 417 2,206 1,577 – Other1 23 18 57 28 12 126 52 – Commercial Banking 245 282 308 305 254 1,138 1,109 – Wholesale Transaction Banking 182 188 186 176 179 730 709 – Credit and Lending 18 17 17 27 18 78 83 – Other1 45 77 105 102 57 330 317 – Other 0 0 0 0 0 0 0 Revenue excluding notable items 4,066 3,986 3,858 4,008 3,819 15,878 15,047 Notable items — — — — — — — Revenue 4,066 3,986 3,858 4,008 3,819 15,878 15,047 1 'Other' includes allocated revenue from Markets Treasury. Year to date Year to date Quarter ended Quarter ended 9
Slide 12 — HSBC
HSBC UK business Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 3,369 3,341 3,225 3,003 3,068 12,938 11,954 ECL (102) (271) (154) (169) (170) (696) (402) Total operating expenses (1,485) (1,428) (1,341) (1,283) (1,389) (5,537) (4,947) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax 1,782 1,642 1,730 1,551 1,509 6,705 6,605 Constant currency results ($m) Revenue 3,369 3,293 3,210 3,174 3,183 12,938 12,342 ECL (102) (267) (153) (178) (177) (696) (415) Total operating expenses (1,485) (1,408) (1,335) (1,355) (1,439) (5,537) (5,104) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax 1,782 1,618 1,722 1,641 1,567 6,705 6,823 Notable items (reported) ($m) Total (7) (15) (43) (4) 5 (69) 13 Revenue — — — — — — — ECL — — — — — — — Operating expenses (7) (15) (43) (4) 5 (69) 13 Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total (7) (15) (43) (4) 5 (69) 13 Revenue — — — — — — — ECL — — — — — — — Operating expenses (7) (15) (43) (4) 5 (69) 13 Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 305,700 301,492 301,611 278,878 269,141 Loans and advances to external customers (net) 303,698 299,443 299,631 276,965 267,293 Total external assets 451,493 446,179 443,023 415,785 404,577 External customer accounts 364,323 357,201 360,494 339,570 330,012 Risk-weighted assets 152,973 153,511 152,894 139,774 133,495 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 303,698 298,720 293,365 287,768 285,778 External customer accounts 364,323 356,338 352,955 352,815 352,833 Risk-weighted assets 152,973 153,139 149,687 145,247 142,763 Quarter ended Year to date Balance sheet date 10
Slide 13 — HSBC
HSBC UK business Management View of Revenue (original FX rates) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII 2,935 2,855 2,745 2,561 2,571 11,096 10,029 Fee and other income 434 486 480 442 497 1,842 1,925 – Retail Banking and Wealth 128 173 165 151 179 617 722 – Retail Banking 51 70 72 62 81 255 264 – Wealth 70 94 89 86 77 339 380 – Other1 7 9 4 3 21 23 78 – Commercial Banking 306 313 315 291 318 1,225 1,203 – Wholesale Transaction Banking 224 223 228 216 218 891 884 – Credit and Lending 62 65 58 53 55 238 209 – Other1 20 25 29 22 45 96 110 Revenue excluding notable items 3,369 3,341 3,225 3,003 3,068 12,938 11,954 Notable items — — — — — — — Revenue 3,369 3,341 3,225 3,003 3,068 12,938 11,954 Management View of Revenue (constant currency) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII 2,935 2,814 2,731 2,708 2,668 11,096 10,355 Fee and other income 434 479 479 466 515 1,842 1,987 – Retail Banking and Wealth 128 170 163 161 187 617 744 – Retail Banking 51 69 71 66 85 255 273 – Wealth 70 92 88 91 80 339 391 – Other1 7 9 4 4 22 23 80 – Commercial Banking 306 309 316 305 328 1,225 1,243 – Wholesale Transaction Banking 224 221 226 228 228 891 912 – Credit and Lending 62 64 58 56 57 238 216 – Other1 20 24 32 21 43 96 115 Revenue excluding notable items 3,369 3,293 3,210 3,174 3,183 12,938 12,342 Notable items — — — — — — — Revenue 3,369 3,293 3,210 3,174 3,183 12,938 12,342 1 'Other' includes allocated revenue from Markets Treasury. Year to date Year to date Quarter ended Quarter ended 11
Slide 14 — HSBC
HSBC Corporate and Institutional Banking business Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 6,791 6,729 6,930 7,187 6,560 27,637 26,819 ECL (233) (164) (130) (169) (524) (696) (869) Total operating expenses (4,082) (4,018) (3,958) (3,498) (3,913) (15,556) (14,544) Share of profit in associates and joint ventures less impairment 1 — — — — 1 1 Profit/(loss) before tax 2,477 2,547 2,842 3,520 2,123 11,386 11,407 Constant currency results ($m) Revenue 6,791 6,704 6,968 7,417 6,661 27,637 26,772 ECL (233) (165) (132) (176) (542) (696) (878) Total operating expenses (4,082) (4,001) (3,985) (3,618) (3,989) (15,556) (14,612) Share of profit in associates and joint ventures less impairment 1 — — — — 1 1 Profit/(loss) before tax 2,477 2,538 2,851 3,623 2,130 11,386 11,283 Notable items (reported) ($m) Total (154) (419) (324) (72) (17) (969) (26) Revenue (3) (6) — — — (9) (14) ECL — — — — — — — Operating expenses (151) (413) (324) (72) (17) (960) (12) Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total (154) (415) (326) (79) (14) (969) (23) Revenue (3) (7) — — — (9) (14) ECL — — — — — — — Operating expenses (151) (408) (326) (79) (14) (960) (9) Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 308,169 306,090 307,233 298,341 287,842 Loans and advances to external customers (net) 305,022 303,055 304,240 295,097 284,701 Total external assets 1,793,162 1,758,157 1,763,915 1,663,958 1,647,797 External customer accounts 597,719 586,529 564,847 554,760 557,796 Risk-weighted assets 408,687 403,337 411,223 394,659 388,047 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 305,022 303,546 303,917 305,110 297,877 External customer accounts 597,719 586,824 561,442 575,235 587,926 Risk-weighted assets 408,687 403,781 410,624 404,275 400,687 Quarter ended Year to date Balance sheet date 12
Slide 15 — HSBC
HSBC Corporate and Institutional Banking business Management View of Revenue (original FX rates) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII 3,807 3,711 3,570 3,444 3,596 14,532 14,774 Fee and other income 2,987 3,024 3,360 3,743 2,964 13,114 12,059 – Wholesale Transaction Banking 2,210 2,198 2,373 2,458 2,135 9,239 8,841 – Investment Banking 200 220 292 250 231 962 934 – Debt and Equity Markets 390 371 504 1,018 504 2,283 2,214 – Wholesale Credit and Lending 144 145 135 143 152 567 620 – Other1 43 90 56 (126) (58) 63 (550) Revenue excluding notable items 6,794 6,735 6,930 7,187 6,560 27,646 26,833 Notable items (3) (6) — — — (9) (14) Revenue 6,791 6,729 6,930 7,187 6,560 27,637 26,819 Management View of Revenue (constant currency) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII 3,807 3,697 3,592 3,553 3,619 14,532 14,519 Fee and other income 2,987 3,014 3,376 3,864 3,042 13,114 12,267 – Wholesale Transaction Banking 2,210 2,189 2,379 2,527 2,171 9,239 8,847 – Investment Banking 200 219 292 259 236 962 946 – Debt and Equity Markets 390 371 508 1,050 513 2,283 2,252 – Wholesale Credit and Lending 144 144 137 149 157 567 626 – Other1 43 91 60 (121) (35) 63 (404) Revenue excluding notable items 6,794 6,711 6,968 7,417 6,661 27,646 26,786 Notable items (3) (7) — — — (9) (14) Revenue 6,791 6,704 6,968 7,417 6,661 27,637 26,772 1 'Other' includes allocated revenue from Markets Treasury and hyperinflationary impacts. It also includes notional tax credits. Year to date Year to date Quarter ended Quarter ended 13
Slide 16 — HSBC
HSBC International Wealth and Premier Banking business Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 3,686 3,823 3,500 3,511 3,174 14,520 13,976 ECL (235) (204) (226) (227) (310) (892) (1,038) Total operating expenses (2,466) (2,351) (2,362) (2,106) (2,367) (9,285) (9,013) Share of profit in associates and joint ventures less impairment (2) 24 (8) 10 4 24 47 Profit/(loss) before tax 983 1,292 904 1,188 501 4,367 3,972 Constant currency results ($m) Revenue 3,686 3,827 3,549 3,648 3,239 14,520 13,817 ECL (235) (207) (237) (247) (328) (892) (993) Total operating expenses (2,466) (2,351) (2,396) (2,191) (2,410) (9,285) (8,900) Share of profit in associates and joint ventures less impairment (2) 24 (8) 10 4 24 45 Profit/(loss) before tax 983 1,293 908 1,220 505 4,367 3,969 Notable items (reported) ($m) Total 12 (188) (100) (41) (44) (317) 11 Revenue 94 (110) (43) (14) (27) (73) 28 ECL — — — — — — — Operating expenses (82) (78) (57) (27) (17) (244) (17) Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total 12 (188) (100) (44) (46) (317) 9 Revenue 94 (110) (43) (16) (29) (73) 26 ECL — — — — — — — Operating expenses (82) (78) (57) (28) (17) (244) (17) Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 151,657 152,243 149,110 140,910 137,789 Loans and advances to external customers (net) 150,047 150,654 147,523 139,416 136,325 Total external assets 416,331 447,082 435,437 411,768 396,447 External customer accounts 281,058 273,849 275,504 266,428 259,443 Risk-weighted assets 89,876 91,559 91,036 86,532 85,673 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 150,047 151,055 147,852 145,981 144,027 External customer accounts 281,058 274,488 275,106 276,035 271,588 Risk-weighted assets 89,876 91,900 91,436 89,880 89,739 Quarter ended Year to date Balance sheet date 14
Slide 17 — HSBC
HSBC International Wealth and Premier Banking business Management View of Revenue (original FX rates) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII1 1,775 1,785 1,734 1,706 1,814 7,000 7,882 Fee and other income 1,817 2,148 1,809 1,819 1,387 7,593 6,066 – Retail Banking 182 169 161 153 178 665 795 – Wealth1 1,617 1,940 1,629 1,659 1,265 6,845 5,603 – Other2 18 39 19 7 (56) 83 (332) Revenue excluding notable items 3,592 3,933 3,543 3,525 3,201 14,593 13,948 Notable items 94 (110) (43) (14) (27) (73) 28 Revenue 3,686 3,823 3,500 3,511 3,174 14,520 13,976 Management View of Revenue (constant currency) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII1 1,775 1,788 1,768 1,789 1,839 7,000 7,640 Fee and other income 1,817 2,149 1,824 1,875 1,429 7,593 6,151 – Retail Banking 182 170 167 163 182 665 765 – Wealth1 1,617 1,937 1,640 1,703 1,284 6,845 5,618 – Other2 18 42 17 9 (37) 83 (232) Revenue excluding notable items 3,592 3,937 3,592 3,664 3,268 14,593 13,791 Notable items 94 (110) (43) (16) (29) (73) 26 Revenue 3,686 3,827 3,549 3,648 3,239 14,520 13,817 Year to date Quarter ended 2 'Other' includes allocated revenue from Markets Treasury and hyperinflationary impacts. It also includes other non-product-specific income. 1 Banking NII for IWPB is computed by deducting third party net interest income ('NII') in our insurance business from total IWPB NII. Total insurance NII is presented in 'fee and other income' in Wealth in our Management View of Revenue. Quarter ended Year to date 15
Slide 18 — HSBC
HSBC Corporate Centre Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue (1,548) (69) (1,024) (58) (5,058) (2,699) (1,929) ECL (23) (65) (11) 9 (2) (90) (29) Total operating expenses 10 (1,070) (92) (72) 367 (1,224) 298 Share of profit in associates and joint ventures less impairment 670 567 (154) 803 675 1,886 2,864 Profit/(loss) before tax (891) (637) (1,281) 682 (4,018) (2,127) 1,204 Constant currency results ($m) Revenue (1,548) (88) (1,113) (46) (5,122) (2,699) (1,969) ECL (23) (65) (10) 8 (1) (90) (29) Total operating expenses 10 (1,041) (68) (75) 397 (1,224) 311 Share of profit in associates and joint ventures less impairment 670 570 (163) 819 683 1,886 2,867 Profit/(loss) before tax (891) (624) (1,354) 706 (4,043) (2,127) 1,180 Notable items (reported) ($m) Total (1,629) (1,185) (2,367) (158) (4,990) (5,339) (1,811) Revenue (1,450) 4 (1,141) (77) (4,913) (2,664) (1,594) ECL — — — — — — — Operating expenses (179) (1,189) (226) (81) (77) (1,675) (217) Impairment losses of interest in BoCom associate — — (1,000) — — (1,000) — Notable items (constant currency) ($m) Total (1,629) (1,167) (2,411) (159) (4,980) (5,339) (1,796) Revenue (1,450) 5 (1,162) (76) (4,908) (2,664) (1,594) ECL — — — — — — — Operating expenses (179) (1,172) (228) (83) (72) (1,675) (202) Impairment losses of interest in BoCom associate — — (1,021) — — (1,000) — Quarter ended Year to date 16
Slide 19 — HSBC
HSBC Corporate Centre Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross)1 176 202 234 218 7,185 Loans and advances to external customers (net)1 141 160 189 176 7,131 Total external assets 134,114 140,382 138,843 140,909 134,282 External customer accounts 347 399 353 393 315 Risk-weighted assets 97,483 89,890 91,077 87,363 87,371 Balance sheet data (constant currency) ($m) Loans and advances to external customers (net)1 141 159 190 180 8,043 External customer accounts 347 399 347 409 336 Risk-weighted assets 97,483 89,896 91,006 87,984 88,518 Management View of Revenue (original FX rates) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII (68) (236) (170) (152) (140) (626) (697) Fee and other income (30) 163 287 171 (5) 591 362 Revenue excluding notable items (98) (73) 117 19 (145) (35) (335) Notable items (1,450) 4 (1,141) (77) (4,913) (2,664) (1,594) Revenue (1,548) (69) (1,024) (58) (5,058) (2,699) (1,929) Management View of Revenue (constant currency) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Banking NII (68) (235) (170) (165) (148) (626) (726) Fee and other income (30) 142 219 195 (66) 591 351 Revenue excluding notable items (98) (93) 49 30 (214) (35) (375) Notable items (1,450) 5 (1,162) (76) (4,908) (2,664) (1,594) Revenue (1,548) (88) (1,113) (46) (5,122) (2,699) (1,969) Year to date Quarter ended 1 The reduction in loans and advances to customers includes the reclassification to 'financial investments measured at fair value through other comprehensive income' of a portfolio of home and other loans retained following the disposal of our retail banking operations in France. With effect from 1 January 2025 we reclassified this portfolio to a hold-to-collect and sell business model, measuring it at fair value through other comprehensive income. Quarter ended Balance sheet date Year to date 17
Slide 20 — HSBC
HSBC Legal entities HSBC UK Bank plc (UK ring-fenced bank) All businesses Reported Results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 3,600 3,559 3,432 3,211 3,263 13,802 12,752 ECL (101) (269) (153) (187) (170) (710) (405) Total operating expenses (1,538) (1,461) (1,372) (1,313) (1,436) (5,684) (5,135) Share of profit in associates and joint ventures less impairment 1 — — — 1 1 1 Profit/(loss) before tax 1,962 1,829 1,907 1,711 1,658 7,409 7,213 Constant currency results ($m) Revenue 3,600 3,509 3,417 3,389 3,384 13,802 13,157 ECL (101) (266) (152) (198) (176) (710) (419) Total operating expenses (1,538) (1,439) (1,368) (1,386) (1,488) (5,684) (5,297) Share of profit in associates and joint ventures less impairment 1 — — — — 1 1 Profit/(loss) before tax 1,962 1,804 1,897 1,805 1,720 7,409 7,442 Notable items (reported) ($m) Total (56) (25) (72) (9) 3 (162) 11 Revenue — — — — — — — ECL — — — — — — — Operating expenses (56) (25) (72) (9) 3 (162) 11 Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total (56) (25) (72) (10) 2 (162) 10 Revenue — — — — — — — ECL — — — — — — — Operating expenses (56) (25) (72) (10) 2 (162) 10 Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 312,145 307,580 307,670 284,917 274,840 Loans and advances to external customers (net) 310,116 305,503 305,661 282,969 272,973 Total external assets 471,852 465,908 462,803 435,420 422,524 External customer accounts 376,903 368,585 371,420 349,850 340,233 Risk-weighted assets1 157,542 158,446 158,083 144,861 138,520 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 310,116 304,765 299,268 294,006 291,851 External customer accounts 376,903 367,694 363,652 363,496 363,762 Risk-weighted assets 157,542 158,063 154,777 150,510 148,099 Quarter ended Year to date Balance sheet date 18
Slide 21 — HSBC
HSBC Legal entities HSBC UK Bank plc (UK ring-fenced bank) UK business Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 3,451 3,424 3,305 3,079 3,137 ECL (100) (273) (154) (169) (170) Total operating expenses (1,485) (1,430) (1,326) (1,277) (1,392) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,866 1,721 1,825 1,633 1,575 Constant currency results ($m) Revenue 3,451 3,374 3,289 3,250 3,253 ECL (100) (268) (153) (179) (177) Total operating expenses (1,485) (1,408) (1,321) (1,348) (1,443) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,866 1,698 1,815 1,723 1,633 Notable items (reported) ($m) Total (15) (14) (43) (4) 5 Revenue — — — — — ECL — — — — — Operating expenses (15) (14) (43) (4) 5 Impairment of interest in associate — — — — — Notable items (Constant currency) ($m) Total (15) (14) (43) (4) 5 Revenue — — — — — ECL — — — — — Operating expenses (15) (14) (43) (4) 5 Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 303,698 299,443 299,632 276,965 267,293 External customer accounts 364,323 357,200 360,494 339,570 330,012 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 303,698 298,720 293,365 287,768 285,778 External customer accounts 364,323 356,338 352,955 352,815 352,833 Quarter ended Balance sheet date 19
Slide 22 — HSBC
HSBC Legal entities HSBC UK Bank plc (UK ring-fenced bank) Of which: Retail Banking and Wealth (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 1,628 1,623 1,565 1,436 1,444 ECL (70) (93) (89) (88) (21) Total operating expenses (872) (908) (820) (780) (824) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 686 622 656 568 599 Loans and advances to external customers (net) 201,717 199,435 200,297 186,702 179,672 External customer accounts 230,474 227,504 230,359 218,514 210,231 Of which: Retail Banking and Wealth (constant currency) ($m) Revenue 1,628 1,600 1,556 1,516 1,498 ECL (70) (90) (89) (93) (23) Total operating expenses (872) (894) (817) (823) (854) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 686 616 650 600 621 Loans and advances to external customers (net) 201,717 198,953 196,108 193,984 192,097 External customer accounts 230,474 226,955 225,543 227,037 224,768 Of which: Commercial Banking (reported) ($m) Revenue 1,823 1,801 1,740 1,643 1,693 ECL (30) (180) (65) (81) (149) Total operating expenses (613) (522) (506) (497) (568) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,180 1,099 1,169 1,065 976 Loans and advances to external customers (net) 101,981 100,008 99,335 90,263 87,621 External customer accounts 133,849 129,696 130,135 121,056 119,781 Of which: Commercial Banking (constant currency) ($m) Revenue 1,823 1,774 1,733 1,734 1,755 ECL (30) (178) (64) (86) (154) Total operating expenses (613) (514) (504) (525) (589) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,180 1,082 1,165 1,123 1,012 Loans and advances to external customers (net) 101,981 99,767 97,257 93,784 93,681 External customer accounts 133,849 129,383 127,412 125,778 128,065 Quarter ended 20
Slide 23 — HSBC
HSBC Legal entities HSBC UK Bank plc (UK ring-fenced bank) Corporate and Institutional Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 62 48 52 52 54 ECL — — — — — Total operating expenses (8) (15) (17) (13) (16) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 54 33 35 39 38 Constant currency results ($m) Revenue 62 48 52 55 56 ECL — — — — — Total operating expenses (8) (14) (18) (14) (16) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 54 34 34 41 40 Notable items (reported) ($m) Total (7) (1) (3) (1) (2) Revenue — — — — — ECL — — — — — Operating expenses (7) (1) (3) (1) (2) Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (7) — (3) (1) (2) Revenue — — — — — ECL — — — — — Operating expenses (7) — (3) (1) (2) Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Balance sheet (constant currency) ($m) Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Quarter ended Balance sheet date 21
Slide 24 — HSBC
HSBC Legal entities HSBC UK Bank plc (UK ring-fenced bank) International Wealth and Premier Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 101 86 89 85 80 ECL (1) 4 1 (18) — Total operating expenses (48) (54) (57) (53) (58) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 52 36 33 14 22 Constant currency results ($m) Revenue 101 87 89 90 83 ECL (1) 2 1 (19) 1 Total operating expenses (48) (54) (56) (56) (61) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 52 35 34 15 23 Notable items (reported) ($m) Total 3 (4) (3) — — Revenue — — — — — ECL — — — — — Operating expenses 3 (4) (3) — — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total 3 (4) (3) — — Revenue — — — — — ECL — — — — — Operating expenses 3 (4) (3) — — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 6,418 6,060 6,029 6,004 5,680 External customer accounts 12,295 11,077 10,659 10,021 9,991 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 6,418 6,045 5,903 6,238 6,073 External customer accounts 12,295 11,050 10,436 10,412 10,682 Quarter ended Balance sheet date 22
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HSBC Legal entities HSBC UK Bank plc (UK ring-fenced bank) Corporate Centre Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue (14) 1 (14) (5) (8) ECL — — — — — Total operating expenses 3 38 28 30 30 Share of profit in associates and joint ventures less impairment 1 — — — 1 Profit/(loss) before tax (10) 39 14 25 23 Constant currency results ($m) Revenue (14) — (13) (6) (8) ECL — — — — — Total operating expenses 3 37 27 32 32 Share of profit in associates and joint ventures less impairment 1 — — — — Profit/(loss) before tax (10) 37 14 26 24 Notable items (reported) ($m) Total (37) (6) (23) (4) — Revenue — — — — — ECL — — — — — Operating expenses (37) (6) (23) (4) — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (37) (7) (23) (5) (1) Revenue — — — — — ECL — — — — — Operating expenses (37) (7) (23) (5) (1) Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) — — — — — External customer accounts 285 308 267 259 230 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) — — — — — External customer accounts 285 306 261 269 247 Quarter ended Balance sheet date 1 Reported RWAs include transactions with other group entities in line with the published consolidated balance sheets. 23
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HSBC Legal entities HSBC Bank plc (our non ring-fenced bank in the UK and Europe) All businesses Reported Results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 1,239 2,441 2,638 2,720 2,388 9,038 9,557 ECL (80) (24) (60) (39) (274) (203) (211) Total operating expenses (2,108) (3,227) (2,141) (1,665) (1,909) (9,141) (6,723) Share of profit in associates and joint ventures less impairment 22 20 43 (3) 3 82 22 Profit/(loss) before tax (927) (790) 480 1,013 208 (224) 2,645 Constant currency results ($m) Revenue 1,239 2,421 2,627 2,925 2,477 9,038 9,853 ECL (80) (24) (60) (44) (287) (203) (217) Total operating expenses (2,108) (3,193) (2,169) (1,788) (2,021) (9,141) (6,981) Share of profit in associates and joint ventures less impairment 22 20 42 (3) 3 82 23 Profit/(loss) before tax (927) (776) 440 1,090 172 (224) 2,678 Notable items (reported) ($m) Total (1,402) (1,648) (397) (34) (20) (3,481) (142) Revenue (1,386) (104) (42) (14) (20) (1,546) (148) ECL — — — — — — — Operating expenses (16) (1,544) (355) (20) — (1,935) 6 Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total (1,402) (1,627) (406) (38) (22) (3,481) (150) Revenue (1,386) (103) (43) (16) (22) (1,546) (156) ECL — — — — — — — Operating expenses (16) (1,524) (363) (22) — (1,935) 6 Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 107,347 109,237 107,977 102,614 104,541 Loans and advances to external customers (net) 106,409 108,308 107,058 101,516 103,464 Total external assets 894,114 916,374 920,890 858,092 858,910 External customer accounts 321,451 309,673 306,014 307,594 297,785 Risk-weighted assets1 150,670 150,963 154,392 141,522 140,813 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 106,409 108,174 106,152 108,389 114,316 External customer accounts 321,451 309,172 302,095 324,713 324,567 Risk-weighted assets 150,670 150,598 151,163 147,042 150,551 Quarter ended Year to date Balance sheet date 24
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HSBC Legal entities HSBC Bank plc (our non ring-fenced bank in the UK and Europe) Corporate and Institutional Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 2,118 1,973 2,179 2,173 1,851 ECL (97) (37) (38) (42) (268) Total operating expenses (1,778) (1,690) (1,647) (1,309) (1,576) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 243 246 494 822 7 Constant currency results ($m) Revenue 2,118 1,956 2,203 2,335 1,963 ECL (97) (37) (38) (47) (281) Total operating expenses (1,778) (1,672) (1,666) (1,402) (1,664) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 243 247 499 886 18 Notable items (reported) ($m) Total (131) (371) (260) (17) 1 Revenue (3) (6) — — — ECL — — — — — Operating expenses (128) (365) (260) (17) 1 Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (131) (368) (266) (18) 1 Revenue (3) (7) — — — ECL — — — — — Operating expenses (128) (361) (266) (18) 1 Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 83,699 85,823 84,477 80,189 76,033 External customer accounts 266,190 254,637 250,005 253,689 247,005 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 83,699 85,700 83,750 85,531 83,909 External customer accounts 266,190 254,242 246,979 268,256 269,802 Quarter ended Balance sheet date 25
Slide 28 — HSBC
HSBC Legal entities HSBC Bank plc (our non ring-fenced bank in the UK and Europe) International Wealth and Premier Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 569 472 464 443 466 ECL 6 4 (12) (3) (5) Total operating expenses (380) (339) (364) (271) (301) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 195 137 88 169 160 Constant currency results ($m) Revenue 569 469 467 476 496 ECL 6 4 (12) (3) (5) Total operating expenses (380) (338) (371) (296) (323) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 195 135 84 177 168 Notable items (reported) ($m) Total 48 (145) (52) (17) (21) Revenue 71 (96) (42) (14) (20) ECL — — — — — Operating expenses (23) (49) (10) (3) (1) Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total 48 (143) (53) (19) (24) Revenue 71 (94) (43) (16) (23) ECL — — — — — Operating expenses (23) (49) (10) (3) (1) Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 22,700 22,454 22,519 21,277 20,424 External customer accounts 55,209 54,962 55,959 53,817 50,738 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 22,700 22,443 22,341 22,804 22,490 External customer accounts 55,209 54,856 55,066 56,364 54,719 Balance sheet date Quarter ended 26
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HSBC Legal entities HSBC Bank plc (our non ring-fenced bank in the UK and Europe) Corporate Centre Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue (1,448) (4) (5) 104 71 ECL 11 9 (10) 6 (1) Total operating expenses 50 (1,198) (130) (85) (32) Share of profit in associates and joint ventures less impairment 22 20 43 (3) 3 Profit/(loss) before tax (1,365) (1,173) (102) 22 41 Constant currency results ($m) Revenue (1,448) (4) (43) 114 18 ECL 11 9 (10) 6 (1) Total operating expenses 50 (1,183) (132) (90) (34) Share of profit in associates and joint ventures less impairment 22 20 42 (3) 3 Profit/(loss) before tax (1,365) (1,158) (143) 27 (14) Notable items (reported) ($m) Total (1,319) (1,132) (85) — — Revenue (1,454) (2) — — — ECL — — — — — Operating expenses 135 (1,130) (85) — — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (1,319) (1,116) (87) (1) 1 Revenue (1,454) (2) — — 1 ECL — — — — — Operating expenses 135 (1,114) (87) (1) — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 10 31 62 50 7,007 External customer accounts 52 74 50 88 42 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 10 31 61 54 7,917 External customer accounts 52 74 50 93 46 Quarter ended Balance sheet date 1 Reported RWAs include transactions with other group entities in line with the published consolidated balance sheets. 27
Slide 30 — HSBC
HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Our primary banking entity in Asia, including Hang Seng Bank Limited) All businesses Reported Results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 8,775 9,140 7,957 9,382 8,324 35,254 34,053 ECL (427) (298) (557) (353) (541) (1,635) (1,532) Total operating expenses (4,081) (3,797) (3,765) (3,538) (3,859) (15,181) (14,329) Share of profit in associates and joint ventures less impairment 486 406 (377) 635 541 1,150 2,278 Profit/(loss) before tax 4,753 5,451 3,258 6,126 4,465 19,588 20,470 Constant currency results ($m) Revenue 8,775 9,150 7,958 9,445 8,328 35,254 34,066 ECL (427) (300) (559) (354) (542) (1,635) (1,533) Total operating expenses (4,081) (3,803) (3,777) (3,568) (3,865) (15,181) (14,343) Share of profit in associates and joint ventures less impairment 486 409 (386) 651 548 1,150 2,278 Profit/(loss) before tax 4,753 5,456 3,236 6,174 4,469 19,588 20,468 Notable items (reported) ($m) Total (125) (75) (2,257) (27) (5) (2,484) (5) Revenue — (2) (1,136) — — (1,138) — ECL — — — — — — — Operating expenses (125) (73) (121) (27) (5) (346) (5) Impairment losses of interest in BoCom associate — — (1,000) — — (1,000) — Notable items (constant currency) ($m) Total (125) (74) (2,298) (28) (5) (2,484) (5) Revenue — (1) (1,156) — — (1,138) — ECL — — — — — — — Operating expenses (125) (73) (121) (28) (5) (346) (5) Impairment losses of interest in BoCom associate — — (1,021) — — (1,000) — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 473,028 465,796 464,611 458,423 454,531 Loans and advances to external customers (net) 467,842 460,790 459,814 453,681 449,940 Total external assets 1,451,530 1,432,060 1,413,049 1,358,951 1,358,371 External customer accounts 911,725 882,380 871,247 839,433 845,284 Risk-weighted assets1 411,824 412,904 416,794 407,315 402,847 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 467,842 461,437 461,697 460,055 456,662 External customer accounts 911,725 883,337 874,770 848,308 855,057 Risk-weighted assets 411,824 413,366 417,313 411,261 407,222 Quarter ended Year to date Balance sheet date 28
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Our primary banking entity in Asia, including Hang Seng Bank Limited) HK business Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 4,142 4,042 3,919 4,079 3,890 ECL (308) (304) (544) (320) (356) Total operating expenses (1,301) (1,203) (1,165) (1,131) (1,304) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 2,533 2,535 2,210 2,628 2,230 Constant currency results ($m) Revenue 4,142 4,065 3,935 4,081 3,888 ECL (308) (306) (547) (320) (356) Total operating expenses (1,301) (1,210) (1,169) (1,132) (1,304) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 2,533 2,549 2,219 2,629 2,228 Notable items (reported) ($m) Total (12) (1) (2) (7) — Revenue — — — — — ECL — — — — — Operating expenses (12) (1) (2) (7) — Impairment losses of interest in BoCom associate — — — — — Notable items (constant currency) ($m) Total (12) (1) (2) (7) — Revenue — — — — — ECL — — — — — Operating expenses (12) (1) (2) (7) — Impairment losses of interest in BoCom associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 229,491 229,574 230,139 233,054 235,208 External customer accounts 543,381 519,269 517,406 505,334 507,388 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 229,491 229,608 232,173 233,197 235,052 External customer accounts 543,381 519,192 521,892 505,261 506,557 Quarter ended Balance sheet date 29
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Our primary banking entity in Asia, including Hang Seng Bank Limited) Of which: Retail Banking and Wealth (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 2,618 2,570 2,443 2,551 2,388 ECL (139) (35) (68) (78) (78) Total operating expenses (880) (823) (797) (767) (862) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,599 1,712 1,578 1,706 1,448 Loans and advances to external customers (net) 131,062 129,989 127,997 129,780 131,089 External customer accounts 377,014 360,127 363,194 354,141 353,593 Of which: Retail Banking and Wealth (constant currency) ($m) Revenue 2,618 2,584 2,453 2,553 2,387 ECL (139) (35) (69) (78) (78) Total operating expenses (880) (825) (802) (768) (862) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,599 1,724 1,582 1,707 1,447 Loans and advances to external customers (net) 131,062 129,962 129,100 129,749 130,855 External customer accounts 377,014 360,018 366,289 353,970 352,863 Of which: Commercial Banking (reported) ($m) Revenue 1,524 1,472 1,476 1,528 1,502 ECL (169) (269) (476) (242) (278) Total operating expenses (404) (380) (368) (364) (442) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 951 823 632 922 782 Loans and advances to external customers (net) 98,429 99,585 102,142 103,274 104,119 External customer accounts 166,367 159,142 154,212 151,193 153,795 Of which: Commercial Banking (constant currency) ($m) Revenue 1,524 1,481 1,482 1,528 1,501 ECL (169) (271) (478) (242) (278) Total operating expenses (404) (385) (367) (364) (442) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 951 825 637 922 781 Loans and advances to external customers (net) 98,429 99,646 103,073 103,448 104,197 External customer accounts 166,367 159,174 155,603 151,291 153,694 Quarter ended 30
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Our primary banking entity in Asia, including Hang Seng Bank Limited) Corporate and Institutional Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 3,076 3,201 3,287 3,471 3,059 ECL (72) 29 22 (4) (140) Total operating expenses (1,457) (1,404) (1,378) (1,323) (1,399) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,547 1,826 1,931 2,144 1,520 Constant currency results ($m) Revenue 3,076 3,187 3,282 3,504 3,054 ECL (72) 29 22 (4) (141) Total operating expenses (1,457) (1,401) (1,380) (1,338) (1,398) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,547 1,815 1,924 2,162 1,515 Notable items (reported) ($m) Total (24) (23) (38) (17) (3) Revenue — — — — — ECL — — — — — Operating expenses (24) (23) (38) (17) (3) Impairment losses of interest in BoCom associate — — — — — Notable items (constant currency) ($m) Total (24) (22) (38) (18) (3) Revenue — — — — — ECL — — — — — Operating expenses (24) (22) (38) (18) (3) Impairment losses of interest in BoCom associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 159,660 153,344 154,631 151,301 147,144 External customer accounts 217,227 216,114 207,582 193,823 200,581 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 159,660 153,783 154,518 154,453 150,748 External customer accounts 217,227 216,586 206,565 197,859 205,713 Quarter ended Balance sheet date 31
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Our primary banking entity in Asia, including Hang Seng Bank Limited) International Wealth and Premier Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 1,759 2,035 1,764 1,847 1,450 ECL (46) (23) (35) (29) (44) Total operating expenses (1,101) (1,068) (990) (960) (1,039) Share of profit in associates and joint ventures less impairment (4) 23 (11) 7 2 Profit/(loss) before tax 608 967 728 865 369 Constant currency results ($m) Revenue 1,759 2,034 1,771 1,881 1,461 ECL (46) (23) (34) (30) (44) Total operating expenses (1,101) (1,066) (994) (980) (1,046) Share of profit in associates and joint ventures less impairment (4) 22 (10) 6 1 Profit/(loss) before tax 608 967 733 877 372 Notable items (reported) ($m) Total (29) (20) (20) — — Revenue — — — — — ECL — — — — — Operating expenses (29) (20) (20) — — Impairment losses of interest in BoCom associate — — — — — Notable items (constant currency) ($m) Total (29) (20) (19) (1) — Revenue — — — — — ECL — — — — — Operating expenses (29) (20) (19) (1) — Impairment losses of interest in BoCom associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 78,561 77,743 74,916 69,200 67,463 External customer accounts 151,115 146,996 146,257 140,275 137,313 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 78,561 77,918 74,877 72,279 70,736 External customer accounts 151,115 147,557 146,311 145,186 142,785 Quarter ended Balance sheet date 32
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Our primary banking entity in Asia, including Hang Seng Bank Limited) Corporate Centre Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue (202) (138) (1,013) (15) (75) ECL (1) — — — (1) Total operating expenses (222) (122) (232) (124) (117) Share of profit in associates and joint ventures less impairment 490 383 (366) 628 539 Profit/(loss) before tax 65 123 (1,611) 489 346 Constant currency results ($m) Revenue (202) (136) (1,030) (21) (75) ECL (1) — — — (1) Total operating expenses (222) (126) (234) (118) (117) Share of profit in associates and joint ventures less impairment 490 387 (376) 645 547 Profit/(loss) before tax 65 125 (1,640) 506 354 Notable items (reported) ($m) Total (60) (31) (2,197) (3) (2) Revenue — (2) (1,136) — — ECL — — — — — Operating expenses (60) (29) (61) (3) (2) Impairment losses of interest in BoCom associate — — (1,000) — — Notable items (constant currency) ($m) Total (60) (31) (2,239) (2) (2) Revenue — (1) (1,156) — — ECL — — — — — Operating expenses (60) (30) (62) (2) (2) Impairment losses of interest in BoCom associate — — (1,021) — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 130 129 128 126 125 External customer accounts 2 1 2 1 2 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 130 128 129 126 126 External customer accounts 2 2 2 2 2 Quarter ended Balance sheet date 1 Risk-weighted assets are non-additive across the entities, due to market risk diversification effects within the Group. 33
Slide 36 — HSBC
HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Hong Kong)1 (Our primary banking entity in Asia, including Hang Seng Bank Limited) All businesses Reported Results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 5,533 5,670 5,775 6,068 5,297 23,046 21,235 ECL (384) (352) (426) (316) (431) (1,478) (1,274) Total operating expenses (2,345) (2,215) (2,147) (2,105) (2,202) (8,812) (8,281) Share of profit in associates and joint ventures less impairment (7) 17 (16) 4 (3) (2) 10 Profit/(loss) before tax 2,797 3,120 3,186 3,651 2,661 12,754 11,690 Constant currency results ($m) Revenue 5,533 5,700 5,796 6,070 5,295 23,046 21,253 ECL (384) (354) (427) (316) (431) (1,478) (1,273) Total operating expenses (2,345) (2,228) (2,155) (2,106) (2,200) (8,812) (8,287) Share of profit in associates and joint ventures less impairment (7) 18 (16) 4 (3) (2) 9 Profit/(loss) before tax 2,797 3,136 3,198 3,652 2,661 12,754 11,702 Notable items (reported) ($m) Total (63) (34) (59) (23) (3) (179) (3) Revenue — (1) — — — (1) — ECL — — — — — — — Operating expenses (63) (33) (59) (23) (3) (178) (3) Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total (63) (35) (59) (23) (3) (179) (3) Revenue — (1) — — — (1) — ECL — — — — — — — Operating expenses (63) (34) (59) (23) (3) (178) (3) Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 277,513 274,322 275,317 275,003 275,613 Loans and advances to external customers (net) 273,396 270,393 271,663 271,361 272,152 Total external assets 936,881 927,775 907,025 857,499 866,762 External customer accounts 619,029 599,045 589,873 573,328 575,141 Risk-weighted assets 193,626 195,558 195,799 196,461 193,072 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 273,396 270,285 273,956 271,176 271,523 External customer accounts 619,029 598,807 594,851 572,938 573,811 Risk-weighted assets 193,626 195,489 197,267 196,341 192,673 Quarter ended Year to date Balance sheet date 34
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Hong Kong)1 (Our primary banking entity in Asia, including Hang Seng Bank Limited) HK business Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 4,076 3,977 3,852 4,010 3,816 ECL (293) (314) (499) (313) (318) Total operating expenses (1,250) (1,158) (1,116) (1,082) (1,246) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 2,533 2,505 2,237 2,615 2,252 Constant currency results ($m) Revenue 4,076 3,998 3,867 4,011 3,814 ECL (293) (316) (501) (313) (318) Total operating expenses (1,250) (1,164) (1,120) (1,083) (1,246) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 2,533 2,518 2,246 2,615 2,250 Notable items (reported) ($m) Total (7) (1) 1 (7) — Revenue — — — — — ECL — — — — — Operating expenses (7) (1) 1 (7) — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (7) — 1 (7) — Revenue — — — — — ECL — — — — — Operating expenses (7) — 1 (7) — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 220,393 220,329 220,691 223,085 224,879 External customer accounts 532,973 509,655 507,236 495,405 497,038 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 220,393 220,242 222,553 222,933 224,359 External customer accounts 532,973 509,452 511,517 495,068 495,888 Quarter ended Balance sheet date 35
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Hong Kong)1 (Our primary banking entity in Asia, including Hang Seng Bank Limited) Of which: Retail Banking and Wealth (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 2,597 2,550 2,426 2,531 2,367 ECL (137) (36) (67) (76) (76) Total operating expenses (856) (802) (778) (745) (833) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,604 1,712 1,581 1,710 1,458 Loans and advances to external customers (net) 128,877 127,661 125,609 127,255 128,530 External customer accounts 374,166 357,279 360,370 350,997 350,328 Of which: Retail Banking and Wealth (constant currency) ($m) Revenue 2,597 2,564 2,434 2,532 2,366 ECL (137) (36) (67) (76) (77) Total operating expenses (856) (806) (782) (745) (833) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 1,604 1,722 1,585 1,711 1,456 Loans and advances to external customers (net) 128,877 127,611 126,669 127,168 128,232 External customer accounts 374,166 357,137 363,412 350,758 349,518 Of which: Commercial Banking (reported) ($m) Revenue 1,479 1,427 1,426 1,479 1,449 ECL (156) (278) (432) (237) (242) Total operating expenses (377) (356) (338) (337) (413) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 946 793 656 905 794 Loans and advances to external customers (net) 91,516 92,668 95,082 95,830 96,349 External customer accounts 158,807 152,376 146,866 144,408 146,710 Of which: Commercial Banking (constant currency) ($m) Revenue 1,479 1,434 1,433 1,479 1,448 ECL (156) (280) (434) (237) (241) Total operating expenses (377) (358) (338) (338) (413) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 946 796 661 904 794 Loans and advances to external customers (net) 91,516 92,631 95,884 95,765 96,127 External customer accounts 158,807 152,315 148,105 144,310 146,370 Quarter ended 36
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Hong Kong)1 (Our primary banking entity in Asia, including Hang Seng Bank Limited) Corporate and Institutional Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 914 1,023 1,101 1,243 969 ECL (92) (38) 76 (2) (110) Total operating expenses (632) (636) (578) (614) (599) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 190 349 599 627 260 Constant currency results ($m) Revenue 914 1,028 1,105 1,243 969 ECL (92) (37) 76 (2) (111) Total operating expenses (632) (640) (580) (614) (598) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 190 351 601 627 260 Notable (reported items) ($m) Total (14) (11) (10) (14) (2) Revenue — — — — — ECL — — — — — Operating expenses (14) (11) (10) (14) (2) Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (14) (11) (10) (14) (2) Revenue — — — — — ECL — — — — — Operating expenses (14) (11) (10) (14) (2) Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 37,672 34,434 36,690 35,845 36,185 External customer accounts 47,627 50,510 45,228 41,749 44,508 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 37,672 34,420 36,999 35,821 36,101 External customer accounts 47,627 50,490 45,610 41,721 44,406 Quarter ended Balance sheet date 37
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Hong Kong)1 (Our primary banking entity in Asia, including Hang Seng Bank Limited) International Wealth and Premier Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 760 846 757 839 676 ECL 1 — (3) (1) (3) Total operating expenses (319) (336) (283) (301) (311) Share of profit in associates and joint ventures less impairment (9) 17 (17) 3 (4) Profit/(loss) before tax 433 527 454 540 358 Constant currency results ($m) Revenue 760 852 759 839 675 ECL 1 (1) (2) (1) (2) Total operating expenses (319) (338) (284) (301) (310) Share of profit in associates and joint ventures less impairment (9) 17 (17) 3 (4) Profit/(loss) before tax 433 530 456 540 359 Notable items (reported) ($m) Total (2) (4) (7) — — Revenue — — — — — ECL — — — — — Operating expenses (2) (4) (7) — — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (2) (4) (7) — — Revenue — — — — — ECL — — — — — Operating expenses (2) (4) (7) — — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 15,210 15,511 14,164 12,314 10,972 External customer accounts 38,429 38,880 37,409 36,174 33,595 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 15,210 15,504 14,285 12,305 10,947 External customer accounts 38,429 38,865 37,724 36,149 33,517 Quarter ended Balance sheet date 38
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HSBC Legal entities The Hongkong and Shanghai Banking Corporation Limited (Hong Kong)1 (Our primary banking entity in Asia, including Hang Seng Bank Limited) Corporate Centre Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue (217) (176) 65 (24) (164) ECL — — — — — Total operating expenses (144) (85) (170) (108) (46) Share of profit in associates and joint ventures less impairment 2 — 1 1 1 Profit/(loss) before tax (359) (261) (104) (131) (209) Constant currency results ($m) Revenue (217) (178) 65 (23) (163) ECL — — — — — Total operating expenses (144) (86) (171) (108) (46) Share of profit in associates and joint ventures less impairment 2 1 1 1 1 Profit/(loss) before tax (359) (263) (105) (130) (208) Notable items (reported) ($m) Total (40) (18) (43) (2) (1) Revenue — (1) — — — ECL — — — — — Operating expenses (40) (17) (43) (2) (1) Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (40) (20) (43) (2) (1) Revenue — (1) — — — ECL — — — — — Operating expenses (40) (19) (43) (2) (1) Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 121 119 118 117 116 External customer accounts — — — — — Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 121 119 119 117 116 External customer accounts — — — — — Quarter ended Balance sheet date 1 Represents the principal operations of the subsidiary or branch of The Hongkong and Shanghai Banking Corporation Limited, which are located in Hong Kong. 39
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HSBC Legal entities HSBC North America Holdings Inc. (The holding company for our primary banking entities in the USA) All businesses Reported Results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 1,203 1,208 1,148 1,171 1,228 4,730 4,264 ECL (32) (19) (64) (86) (29) (201) (81) Total operating expenses (829) (823) (860) (819) (813) (3,331) (3,351) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax 342 366 224 266 386 1,198 832 Constant currency results ($m) Revenue 1,203 1,209 1,148 1,171 1,229 4,730 4,264 ECL (32) (19) (64) (86) (30) (201) (80) Total operating expenses (829) (823) (860) (819) (812) (3,331) (3,351) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax 342 367 224 266 387 1,198 833 Notable items (reported) ($m) Total (11) (16) (41) (16) (12) (84) (33) Revenue (1) 1 — — — — — ECL — — — — — — — Operating expenses (10) (17) (41) (16) (12) (84) (33) Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total (11) (16) (41) (16) (12) (84) (32) Revenue (1) 1 — — — — — ECL — — — — — — — Operating expenses (10) (17) (41) (16) (12) (84) (32) Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 52,494 56,900 57,677 57,031 56,106 Loans and advances to external customers (net) 52,178 56,528 57,287 56,648 55,786 Total external assets 250,940 251,327 260,269 244,746 234,898 External customer accounts 99,458 99,160 96,145 97,533 99,278 Risk-weighted assets1 73,961 77,528 77,352 76,302 74,416 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 52,178 56,528 57,287 56,648 55,786 External customer accounts 99,458 99,160 96,145 97,533 99,278 Risk-weighted assets 73,961 77,528 77,352 76,302 74,416 Quarter ended Year to date Balance sheet date 40
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HSBC Legal entities HSBC North America Holdings Inc. (The holding company for our primary banking entities in the USA) Corporate and Institutional Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 933 920 864 900 939 ECL (30) (17) (63) (84) (31) Total operating expenses (556) (562) (578) (563) (554) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 347 341 223 253 354 Constant currency results ($m) Revenue 933 920 865 900 940 ECL (30) (17) (64) (84) (32) Total operating expenses (556) (562) (578) (563) (553) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 347 341 223 253 355 Notable items (reported) ($m) Total (2) (13) (19) (12) (2) Revenue — — — — — ECL — — — — — Operating expenses (2) (13) (19) (12) (2) Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (2) (13) (19) (12) (2) Revenue — — — — — ECL — — — — — Operating expenses (2) (13) (19) (12) (2) Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 27,730 30,138 31,308 30,726 30,186 External customer accounts 73,999 73,850 69,774 70,446 73,139 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 27,730 30,138 31,308 30,725 30,185 External customer accounts 73,999 73,850 69,773 70,447 73,139 Quarter ended Balance sheet date 41
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HSBC Legal entities HSBC North America Holdings Inc. (The holding company for our primary banking entities in the USA) International Wealth and Premier Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 247 253 247 238 247 ECL (2) (2) (1) (2) 2 Total operating expenses (212) (212) (210) (192) (213) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 33 39 36 44 36 Constant currency results ($m) Revenue 247 253 247 238 247 ECL (2) (2) — (2) 2 Total operating expenses (212) (211) (210) (192) (213) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 33 40 37 44 36 Notable items (reported) ($m) Total (1) (1) (4) — — Revenue — — — — — ECL — — — — — Operating expenses (1) (1) (4) — — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (1) (1) (4) — — Revenue — — — — — ECL — — — — — Operating expenses (1) (1) (4) — — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 24,448 26,390 25,979 25,922 25,600 External customer accounts 25,459 25,310 26,371 27,087 26,139 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 24,448 26,390 25,979 25,923 25,601 External customer accounts 25,459 25,310 26,372 27,086 26,139 Quarter ended Balance sheet date 42
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HSBC Legal entities HSBC North America Holdings Inc. (The holding company for our primary banking entities in the USA) Corporate Centre Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 23 35 37 33 42 ECL — — — — — Total operating expenses (61) (49) (72) (64) (46) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax (38) (14) (35) (31) (4) Constant currency results ($m) Revenue 23 36 36 33 42 ECL — — — — — Total operating expenses (61) (50) (72) (64) (46) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax (38) (14) (36) (31) (4) Notable items (reported) ($m) Total (8) (2) (18) (4) (10) Revenue (1) 1 — — — ECL — — — — — Operating expenses (7) (3) (18) (4) (10) Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (8) (2) (18) (4) (10) Revenue (1) 1 — — — ECL — — — — — Operating expenses (7) (3) (18) (4) (10) Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Balance sheet (constant currency) ($m) Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Quarter ended Balance sheet date 1 Risk-weighted assets are non-additive across the entities, due to market risk diversification effects within the Group. 43
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HSBC Legal entities HSBC Bank Canada All businesses Reported Results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue — — — — — — 462 ECL — — — — — — (40) Total operating expenses — — — — — — (236) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax — — — — — — 186 Constant currency results ($m) Revenue — — — — — — 435 ECL — — — — — — (38) Total operating expenses — — — — — — (222) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax — — — — — — 175 Notable items (reported) ($m) Total — — — — — — (36) Revenue — — — — — — — ECL — — — — — — — Operating expenses — — — — — — (36) Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total — — — — — — (33) Revenue — — — — — — — ECL — — — — — — — Operating expenses — — — — — — (33) Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) — — — — — Loans and advances to external customers (net) — — — — — Total external assets — — — — — External customer accounts — — — — — Risk-weighted assets — — — — — Balance sheet - constant currency ($m) Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Risk-weighted assets — — — — — Quarter ended Year to date Balance sheet date 44
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HSBC Legal entities HSBC Bank Canada Corporate and Institutional Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue — — — — — ECL — — — — — Total operating expenses — — — — — Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax — — — — — Constant currency results ($m) Revenue — — — — — ECL — — — — — Total operating expenses — — — — — Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax — — — — — Notable items (reported) ($m) Total — — — — — Revenue — — — — — ECL — — — — — Operating expenses — — — — — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total — — — — — Revenue — — — — — ECL — — — — — Operating expenses — — — — — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Balance sheet (constant currency) ($m) Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Quarter ended Balance sheet date 45
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HSBC Legal entities HSBC Bank Canada International Wealth and Premier Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue — — — — — ECL — — — — — Total operating expenses — — — — — Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax — — — — — Constant currency results ($m) Revenue — — — — — ECL — — — — — Total operating expenses — — — — — Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax — — — — — Notable items (reported) ($m) Total — — — — — Revenue — — — — — ECL — — — — — Operating expenses — — — — — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total — — — — — Revenue — — — — — ECL — — — — — Operating expenses — — — — — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Balance sheet (constant currency) ($m) Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Quarter ended Balance sheet date 46
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HSBC Legal entities HSBC Bank Canada Corporate Centre Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue — — — — — ECL — — — — — Total operating expenses — — — — — Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax — — — — — Constant currency results ($m) Revenue — — — — — ECL — — — — — Total operating expenses — — — — — Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax — — — — — Notable items (reported) ($m) Total — — — — — Revenue — — — — — ECL — — — — — Operating expenses — — — — — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total — — — — — Revenue — — — — — ECL — — — — — Operating expenses — — — — — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Balance sheet (constant currency) ($m) Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Quarter ended Balance sheet date 47
Slide 50 — HSBC
HSBC Legal entities Grupo Financiero HSBC, S.A. de C.V. (the holding company of our primary banking entity registered in Mexico) All businesses Reported Results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 905 903 842 823 829 3,473 3,573 ECL (202) (201) (203) (180) (265) (786) (864) Total operating expenses (579) (511) (499) (459) (519) (2,048) (1,994) Share of profit in associates and joint ventures less impairment 2 2 2 4 3 10 15 Profit/(loss) before tax 126 193 142 188 48 649 730 Constant currency results ($m) Revenue 905 918 897 918 910 3,473 3,410 ECL (202) (205) (216) (201) (291) (786) (840) Total operating expenses (579) (519) (532) (512) (569) (2,048) (1,910) Share of profit in associates and joint ventures less impairment 2 2 3 4 3 10 14 Profit/(loss) before tax 126 196 152 209 53 649 674 Notable items (reported) ($m) Total (36) (14) (14) (1) — (65) — Revenue — — — — — — — ECL — — — — — — — Operating expenses (36) (14) (14) (1) — (65) — Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total (36) (16) (15) (1) — (65) — Revenue — — — — — — — ECL — — — — — — — Operating expenses (36) (16) (15) (1) — (65) — Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 26,522 26,375 26,286 24,963 24,534 Loans and advances to external customers (net) 25,252 25,113 25,074 23,843 23,439 Total external assets 48,822 49,183 48,051 44,801 45,073 External customer accounts 29,493 27,235 27,354 26,701 27,525 Risk-weighted assets1 32,509 32,383 32,711 30,182 29,671 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 25,252 25,587 26,303 27,062 27,046 External customer accounts 29,493 27,749 28,695 30,306 31,761 Risk-weighted assets 32,509 32,965 34,234 34,083 34,043 Quarter ended Year to date Balance sheet date 48
Slide 51 — HSBC
HSBC Legal entities Grupo Financiero HSBC, S.A. de C.V. (the holding company of our primary banking entity registered in Mexico) Corporate and Institutional Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 275 275 252 250 248 ECL (18) (22) (29) (20) (32) Total operating expenses (135) (117) (110) (105) (133) Share of profit in associates and joint ventures less impairment 1 — — — — Profit/(loss) before tax 123 136 113 125 83 Constant currency results ($m) Revenue 275 280 268 279 273 ECL (18) (23) (31) (23) (36) Total operating expenses (135) (119) (117) (117) (145) Share of profit in associates and joint ventures less impairment 1 — — — — Profit/(loss) before tax 123 138 120 139 92 Notable items (reported) ($m) Total (3) (1) (2) — — Revenue — — — — — ECL — — — — — Operating expenses (3) (1) (2) — — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (3) (2) (2) — — Revenue — — — — — ECL — — — — — Operating expenses (3) (2) (2) — — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 12,004 11,749 11,797 11,428 10,997 External customer accounts 13,447 12,588 12,638 12,922 13,215 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 12,004 11,971 12,375 12,971 12,689 External customer accounts 13,447 12,826 13,258 14,667 15,249 Quarter ended Balance sheet date 49
Slide 52 — HSBC
HSBC Legal entities Grupo Financiero HSBC, S.A. de C.V. (the holding company of our primary banking entity registered in Mexico) International Wealth and Premier Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 619 618 584 564 564 ECL (184) (179) (174) (160) (233) Total operating expenses (438) (367) (371) (327) (374) Share of profit in associates and joint ventures less impairment 1 2 2 4 3 Profit/(loss) before tax (2) 74 41 81 (40) Constant currency results ($m) Revenue 619 628 623 629 619 ECL (184) (182) (185) (178) (255) Total operating expenses (438) (373) (396) (365) (410) Share of profit in associates and joint ventures less impairment 1 2 3 4 3 Profit/(loss) before tax (2) 75 45 90 (43) Notable items (reported) ($m) Total (23) (10) (4) — — Revenue — — — — — ECL — — — — — Operating expenses (23) (10) (4) — — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (23) (10) (5) — — Revenue — — — — — ECL — — — — — Operating expenses (23) (10) (5) — — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 13,248 13,364 13,277 12,415 12,442 External customer accounts 16,046 14,647 14,716 13,779 14,310 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 13,248 13,616 13,928 14,091 14,357 External customer accounts 16,046 14,923 15,437 15,639 16,512 Balance sheet date Quarter ended 50
Slide 53 — HSBC
HSBC Legal entities Grupo Financiero HSBC, S.A. de C.V. (the holding company of our primary banking entity registered in Mexico) Corporate Centre Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 11 10 6 9 17 ECL — — — — — Total operating expenses (6) (27) (18) (27) (12) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 5 (17) (12) (18) 5 Constant currency results ($m) Revenue 11 10 6 10 18 ECL — — — — — Total operating expenses (6) (27) (19) (30) (14) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 5 (17) (13) (20) 4 Notable items (reported) ($m) Total (10) (3) (8) (1) — Revenue — — — — — ECL — — — — — Operating expenses (10) (3) (8) (1) — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (10) (4) (8) (1) — Revenue — — — — — ECL — — — — — Operating expenses (10) (4) (8) (1) — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Balance sheet (constant currency) ($m) Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Quarter ended Balance sheet date 1 Risk-weighted assets are non-additive across the entities, due to market risk diversification effects within the Group. 51
Slide 54 — HSBC
HSBC Legal entities HSBC Bank Middle East Limited (Our primary banking entity based in the United Arab Emirates) All businesses Reported Results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 711 645 635 619 622 2,610 2,504 ECL (23) (115) (22) (26) (64) (186) (198) Total operating expenses (369) (327) (328) (310) (311) (1,334) (1,192) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax 319 203 285 283 247 1,090 1,114 Constant currency results ($m) Revenue 711 644 636 619 622 2,610 2,505 ECL (23) (115) (22) (26) (64) (186) (198) Total operating expenses (369) (326) (329) (310) (310) (1,334) (1,192) Share of profit in associates and joint ventures less impairment — — — — — — — Profit/(loss) before tax 319 203 285 283 248 1,090 1,115 Notable items (reported) ($m) Total 63 (16) (12) (7) (4) 28 (2) Revenue 72 (1) — — — 71 — ECL — — — — — — — Operating expenses (9) (15) (12) (7) (4) (43) (2) Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total 63 (16) (12) (7) (4) 28 (2) Revenue 72 (1) — — — 71 — ECL — — — — — — — Operating expenses (9) (15) (12) (7) (4) (43) (2) Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 23,372 23,499 22,338 21,679 21,003 Loans and advances to external customers (net) 22,618 22,835 21,736 21,085 20,440 Total external assets 61,672 62,930 59,486 57,899 53,661 External customer accounts 37,010 39,935 35,390 34,572 34,808 Risk-weighted assets1 27,180 26,896 25,606 27,498 26,624 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 22,618 22,834 21,737 21,093 20,449 External customer accounts 37,010 39,932 35,386 34,596 34,836 Risk-weighted assets 27,180 26,892 25,604 27,521 26,655 Quarter ended Year to date Balance sheet date 52
Slide 55 — HSBC
HSBC Legal entities HSBC Bank Middle East Limited (Our primary banking entity based in the United Arab Emirates) Corporate and Institutional Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 409 424 400 398 404 ECL (13) (112) (17) (12) (47) Total operating expenses (206) (170) (181) (165) (159) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 190 142 202 221 198 Constant currency results ($m) Revenue 409 423 401 398 404 ECL (13) (111) (17) (12) (46) Total operating expenses (206) (170) (181) (165) (159) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 190 142 203 221 199 Notable items (reported) ($m) Total (2) (4) (5) (1) — Revenue — — — — — ECL — — — — — Operating expenses (2) (4) (5) (1) — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (2) (4) (4) (1) — Revenue — — — — — ECL — — — — — Operating expenses (2) (4) (4) (1) — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 18,379 18,627 17,812 17,305 16,518 External customer accounts 20,807 24,040 19,363 18,691 19,063 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 18,379 18,627 17,812 17,313 16,526 External customer accounts 20,807 24,036 19,359 18,713 19,089 Quarter ended Balance sheet date 53
Slide 56 — HSBC
HSBC Legal entities HSBC Bank Middle East Limited (Our primary banking entity based in the United Arab Emirates) International Wealth and Premier Banking Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 293 213 223 215 211 ECL (10) (3) (5) (14) (17) Total operating expenses (142) (122) (124) (120) (125) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 141 88 94 81 69 Constant currency results ($m) Revenue 293 213 223 215 211 ECL (10) (4) (5) (14) (18) Total operating expenses (142) (121) (125) (120) (124) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax 141 88 93 81 69 Notable items (reported) ($m) Total 69 (1) (1) (2) — Revenue 72 — — — — ECL — — — — — Operating expenses (3) (1) (1) (2) — Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total 69 (1) (1) (2) — Revenue 72 — — — — ECL — — — — — Operating expenses (3) (1) (1) (2) — Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) 4,239 4,208 3,924 3,780 3,922 External customer accounts 16,203 15,895 16,027 15,881 15,745 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 4,239 4,207 3,925 3,780 3,923 External customer accounts 16,203 15,896 16,027 15,883 15,747 Balance sheet date Quarter ended 54
Slide 57 — HSBC
HSBC Legal entities HSBC Bank Middle East Limited (Our primary banking entity based in the United Arab Emirates) Corporate Centre Reported results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Revenue 9 8 12 6 7 ECL — — — — — Total operating expenses (21) (35) (23) (25) (27) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax (12) (27) (11) (19) (20) Constant currency results ($m) Revenue 9 8 12 6 7 ECL — — — — — Total operating expenses (21) (35) (23) (25) (27) Share of profit in associates and joint ventures less impairment — — — — — Profit/(loss) before tax (12) (27) (11) (19) (20) Notable items (reported) ($m) Total (4) (11) (6) (4) (4) Revenue — (1) — — — ECL — — — — — Operating expenses (4) (10) (6) (4) (4) Impairment of interest in associate — — — — — Notable items (constant currency) ($m) Total (4) (11) (7) (4) (4) Revenue — (1) — — — ECL — — — — — Operating expenses (4) (10) (7) (4) (4) Impairment of interest in associate — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Balance sheet (constant currency) ($m) Loans and advances to external customers (net) — — — — — External customer accounts — — — — — Quarter ended Balance sheet date 1 Risk-weighted assets are non-additive across the entities, due to market risk diversification effects within the Group. 55
Slide 58 — HSBC
HSBC Legal entities Other trading entities All businesses Reported Results ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 31-Dec-25 31-Dec-24 Revenue 862 666 574 593 742 2,695 3,303 ECL (3) (9) (8) (5) (22) (25) (93) Total operating expenses (500) (358) (369) (317) (501) (1,544) (1,981) Share of profit in associates and joint ventures less impairment 159 164 172 177 133 672 600 Profit/(loss) before tax 518 463 369 448 352 1,798 1,829 Constant currency results ($m) Revenue 862 665 577 600 684 2,695 2,923 ECL (3) (9) (8) (5) (18) (25) (78) Total operating expenses (500) (356) (368) (320) (445) (1,544) (1,741) Share of profit in associates and joint ventures less impairment 159 164 171 177 134 672 601 Profit/(loss) before tax 518 464 372 452 355 1,798 1,705 Notable items (reported) ($m) Total (6) 1 (8) (20) (56) (33) (93) Revenue — — — — (17) — (23) ECL — — — — — — — Operating expenses (6) 1 (8) (20) (39) (33) (70) Impairment of interest in associate — — — — — — — Notable items (constant currency) ($m) Total (6) — (8) (20) (42) (33) (68) Revenue — — — — (12) — (16) ECL — — — — — — — Operating expenses (6) — (8) (20) (30) (33) (52) Impairment of interest in associate — — — — — — — Balance sheet (reported) ($m) 31-Dec-25 30-Sep-25 30-Jun-25 31-Mar-25 31-Dec-24 Loans and advances to external customers (gross) 4,170 4,008 5,307 5,175 4,819 Loans and advances to external customers (net) 3,971 3,809 5,092 4,967 4,617 Total external assets 28,628 29,041 26,289 25,520 23,217 External customer accounts 10,781 10,262 11,001 10,760 9,999 Risk-weighted assets1,2 57,014 54,073 53,366 52,551 50,731 Balance sheet (constant currency) ($m) Loans and advances to external customers (net) 3,971 3,764 5,054 4,982 4,668 External customer accounts 10,781 10,181 10,965 10,759 9,937 Risk-weighted assets 57,014 53,979 53,200 52,128 50,401 Quarter ended Year to date Balance sheet date 1 Risk-weighted assets are non-additive across the entities, due to market risk diversification effects within the Group. 2 RWAs balance at 31 March 2025 and 31 December 2024 includes HSBC Argentina operational risk RWAs due to the averaging calculation and has been rolled off from 30 June 2025 following the receipt of a PRA waiver. 56
Slide 59 — HSBC
HSBC Credit risk 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 893,433 80,936 24,389 333 999,091 (1,201) (2,318) (7,097) (76) (10,692) 0.1% 2.9% 29.1% 22.8% 1.1% – personal 446,696 23,887 3,945 — 474,528 (667) (1,235) (895) — (2,797) 0.1% 5.2% 22.7% — % 0.6% – corporate and commercial 349,763 54,636 19,966 140 424,505 (478) (1,064) (5,909) (75) (7,526) 0.1% 1.9% 29.6% 53.6% 1.8% – non-bank financial institutions 96,974 2,413 478 193 100,058 (56) (19) (293) (1) (369) 0.1% 0.8% 61.3% 0.5% 0.4% Loans and advances to banks at amortised cost 108,336 132 1 — 108,469 (4) (2) (1) — (7) — % 1.5% 100.0% — % — % Other financial assets measured at amortised cost 888,491 1,651 184 — 890,326 (76) (11) (42) — (129) — % 0.7% 22.8% — % — % Loans and other credit-related commitments 669,648 20,488 652 4 690,792 (149) (97) (69) — (315) — % 0.5% 10.6% — % — % – personal 270,494 1,945 92 — 272,531 (22) (5) — — (27) — % 0.3% — % — % — % – corporate and commercial 255,740 14,649 560 4 270,953 (115) (88) (69) — (272) — % 0.6% 12.3% — % 0.1% – financial 143,414 3,894 — — 147,308 (12) (4) — — (16) — % 0.1% — % — % — % Financial guarantees 15,913 1,371 192 — 17,476 (8) (17) (26) — (51) 0.1% 1.2% 13.5% — % 0.3% – personal 1,446 — — — 1,446 (1) — — — (1) 0.1% — % — % — % 0.1% – corporate and commercial 10,071 1,287 190 — 11,548 (6) (17) (26) — (49) 0.1% 1.3% 13.7% — % 0.4% – financial 4,396 84 2 — 4,482 (1) — — — (1) — % — % — % — % — % At 31 December 2025 2,575,821 104,578 25,418 337 2,706,154 (1,438) (2,445) (7,235) (76) (11,194) 0.1% 2.3% 28.5% 22.6% 0.4% Stage 2 Up-to-date 1 to 29 DPD1 30 and > DPD1 Stage 2 Up-to-date 1 to 29 DPD1 30 and > DPD1 Stage 2 Up-to-date 1 to 29 DPD1 30 and > DPD1 $m $m $m $m $m $m $m $m % % % % Loans and advances to customers at amortised cost 80,936 77,615 1,894 1,427 (2,318) (1,837) (211) (270) 2.9% 2.4% 11.1% 18.9% – personal 23,887 21,481 1,483 923 (1,235) (797) (188) (250) 5.2% 3.7% 12.7% 27.1% – corporate and commercial 54,636 53,898 400 338 (1,064) (1,024) (23) (17) 1.9% 1.9% 5.8% 5.0% – non-bank financial institutions 2,413 2,236 11 166 (19) (16) — (3) 0.8% 0.7% — % 1.8% Loans and advances to banks at amortised cost 132 132 — — (2) (2) — — 1.5% 1.5% — % — % Other financial assets measured at amortised cost 1,651 1,611 21 19 (11) (10) — (1) 0.7% 0.6% — % 5.3% Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total $m $m $m $m $m $m $m $m First lien residential mortgages 365,498 18,148 2,655 386,301 (58) (109) (313) (480) Credit cards 22,781 3,260 373 26,414 (339) (731) (231) (1,301) Other personal lending 58,417 2,479 917 61,813 (270) (395) (351) (1,016) – other personal lending which is secured1 39,906 517 270 40,693 (24) (19) (65) (108) – other personal lending which is unsecured 18,511 1,962 647 21,120 (246) (376) (286) (908) At 31 December 2025 446,696 23,887 3,945 474,528 (667) (1,235) (895) (2,797) By legal entity HSBC UK Bank plc 191,726 14,515 1,200 207,441 (201) (315) (256) (772) HSBC Bank plc 17,416 1,076 365 18,857 (16) (14) (107) (137) The Hongkong and Shanghai Banking Corporation Limited 201,779 6,407 1,108 209,294 (199) (432) (170) (801) HSBC Bank Middle East Limited 4,061 134 47 4,242 (18) (23) (29) (70) HSBC North America Holdings Inc. 19,607 512 404 20,523 (4) (12) (14) (30) Grupo Financiero HSBC, S.A. de C.V. 11,705 1,212 817 13,734 (229) (438) (316) (983) Other trading entities 402 31 4 437 — (1) (3) (4) At 31 December 2025 446,696 23,887 3,945 474,528 (667) (1,235) (895) (2,797) 1 The days past due amounts are presented on a contractual basis. Total personal lending for loans and advances to customers by stage distribution Gross carrying amount Allowance for ECL Gross carrying amount Allowance for ECL 2 Purchased or originated credit impaired ('POCI'). 1 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. ECL coverage % Gross carrying/nominal amount1 Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2025 ECL coverage % Allowance for ECL Stage 2 days past due analysis at 31 December 2025 57
Slide 60 — HSBC
HSBC Credit risk 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 349,763 54,636 19,966 140 424,505 (478) (1,064) (5,909) (75) (7,526) – agriculture, forestry and fishing 6,179 1,058 355 — 7,592 (11) (26) (60) — (97) – mining and quarrying 6,109 747 126 — 6,982 (6) (10) (70) — (86) – manufacturing 74,321 9,785 2,229 37 86,372 (87) (132) (720) (21) (960) – electricity, gas, steam and air-conditioning supply 18,020 1,096 206 — 19,322 (19) (22) (85) — (126) remediation 2,319 132 112 — 2,563 (3) (2) (36) — (41) – real estate and construction 56,041 21,222 10,497 92 87,852 (84) (449) (2,679) (51) (3,263) – of which: commercial real estate 41,893 18,183 9,175 87 69,338 (65) (384) (2,116) (45) (2,610) – wholesale and retail trade, repair of motor vehicles and motorcycles 74,621 7,387 2,538 11 84,557 (69) (92) (1,123) (3) (1,287) – transportation and storage 16,594 3,818 307 — 20,719 (17) (82) (75) — (174) – accommodation and food 10,881 2,072 1,436 — 14,389 (31) (65) (303) — (399) – publishing, audiovisual and broadcasting 22,860 2,110 377 — 25,347 (52) (38) (108) — (198) – professional, scientific and technical activities 22,580 1,923 520 — 25,023 (29) (36) (153) — (218) – administrative and support services 16,962 1,993 570 — 19,525 (21) (53) (321) — (395) security 64 — — — 64 — — — — — – education 1,975 244 40 — 2,259 (5) (10) (11) — (26) – health and care 3,982 323 98 — 4,403 (7) (11) (14) — (32) – arts, entertainment and recreation 2,074 116 123 — 2,313 (4) (5) (42) — (51) – other services 5,764 524 311 — 6,599 (31) (31) (106) — (168) – activities of households 835 6 — — 841 — — — — — – extra-territorial organisations and bodies activities 164 — — — 164 — — — — — – government 7,418 80 121 — 7,619 (2) — (3) — (5) – asset-backed securities — — — — — — — — — — Non-bank financial institutions 96,974 2,413 478 193 100,058 (56) (19) (293) (1) (369) Loans and advances to banks 108,336 132 1 — 108,469 (4) (2) (1) — (7) At 31 December 2025 555,073 57,181 20,445 333 633,032 (538) (1,085) (6,203) (76) (7,902) By legal entity HSBC UK Bank plc 98,719 10,488 3,430 — 112,637 (180) (325) (753) — (1,258) HSBC Bank plc 98,175 5,582 1,756 58 105,571 (68) (96) (611) (29) (804) The Hongkong and Shanghai Banking Corporation Limited 283,206 33,990 12,837 77 330,110 (171) (480) (3,694) (41) (4,386) HSBC Bank Middle East Limited 26,643 1,171 1,242 5 29,061 (19) (31) (630) (5) (685) HSBC North America Holdings Inc. 28,456 3,518 517 193 32,684 (41) (100) (145) (1) (287) Grupo Financiero HSBC, S.A. de C.V. 12,057 2,268 378 — 14,703 (47) (49) (190) — (286) Other trading entities 7,727 164 285 — 8,176 (12) (4) (180) — (196) Holding companies, shared service centres and intra-group eliminations 90 — — — 90 — — — — — At 31 December 2025 555,073 57,181 20,445 333 633,032 (538) (1,085) (6,203) (76) (7,902) Corporate and commercial HSBC UK Bank plc 79,595 10,239 3,352 — 93,186 (170) (322) (681) — (1,173) HSBC Bank plc 54,392 4,542 1,655 58 60,647 (57) (88) (552) (29) (726) The Hongkong and Shanghai Banking Corporation Limited 171,287 33,157 12,654 77 217,175 (140) (476) (3,596) (41) (4,253) HSBC Bank Middle East Limited 14,087 1,140 1,161 5 16,393 (18) (31) (586) (5) (640) HSBC North America Holdings Inc. 18,266 3,271 517 — 22,054 (36) (95) (145) — (276) Grupo Financiero HSBC, S.A. de C.V. 9,174 2,139 342 — 11,655 (46) (48) (169) — (263) Other trading entities 2,962 148 285 — 3,395 (11) (4) (180) — (195) Holding companies, shared service centres and intra-group eliminations — — — — — — — — — — At 31 December 2025 349,763 54,636 19,966 140 424,505 (478) (1,064) (5,909) (75) (7,526) Total wholesale lending for loans and advances to banks and customers by stage distribution Allowance for ECL Gross carrying amount 58
Slide 61 — HSBC Holdings plc
HSBC Holdings plc 8 Canada Square London E14 5HQ United Kingdom www.hsbc.com Incorporated in England and Wales with limited liability Registration number 617987