HSBC Holdings plc Solid Pu Stilettos Top Low Boots Zipper Women's Allhqfashion Spikes Black Interim Results 2018
At a glance
Our international network, access to high-growth markets, and balance sheet strength deliver long-term value for customers and shareholders.
Our operating model consists of four global businesses and a Corporate Centre, supported by HSBC Operations Services and Technology, and 11 global functions.
For the half-year ended 30 June 2018
Reported profit before tax (1H17: US$10.2bn)
US$10.7bn
Adjusted profit before tax (1H17: US$12.4bn)
US$12.1bn
Reported revenue (1H17: US$26.2bn)
US$27.3bn
At 30 June 2018
Reported risk-weighted assets (31 Dec 2017: US$871bn)
Good momentum across our four global businesses, which saw their adjusted revenue rise 7 per cent in the first half, compared with 1H17
Reported profit before tax was up 5% compared with 1H17; adjusted profit before tax was down by 2%, due to increased investment in the business
Adjusted operating expenses of US$16.4bn were US$1.2bn or 8% higher than 1H17, reflecting continued investments to grow the business and enhance our digital capabilities
Strong common equity tier one ratio of 14.2%, which included the impact of foreign currency movements and the US$2 billion dollar share buy-back we announced in May
"The strength of our global businesses underlines the potential of the Group to make further revenue and market share gains, and provides room to invest in revenue growth, resilience, and technology to support our customers."
Mark E Tucker, HSBC Group Chairman 6 August 2018
Investing in technology
Investing in the future of the business is a key pillar of the bank's strategy… Technological change, in particular, will only accelerate in the coming years. Being able to invest thoughtfully and at scale at this point in the cycle will differentiate future winners from the rest of the industry.
Group Chief Executive's Review
"We are investing to win new customers, increase our market share, and lay the foundations for consistent growth in profits and returns."
John M Flint, HSBC Group Chief Executive 6 August 2018
The strength of our network
HSBC is a strong business with a number of clear commercial advantages. In particular, we are a leading international bank with a network that gives us unparalleled access to high-growth markets, particularly in Asia and the Middle East.
Financial targets Delivering against Group financial targets
Return on tangible equity (% annualised)
Created with Highcharts 4.2.1
1H17FY171H18
0
0
9.7
9.9
6.8
0
1H18 9.7%
FY17 6.8
1H17 9.9%
Our target is to achieve a reported return on tangible equity (RoTE) of more than 11% by the end of 2020 - broadly equivalent to a return on equity (RoE) of 10%. Throughout the period from 2018 to 2020, our plan assumes our common equity tier one (CET1) ratio will be above 14%.
In the first half of 2018, we achieved a RoTE of 9.7%, compared with 9.9% in the first half of 2017.
Adjusted jaws
Our target is to maintain positive adjusted jaws on an annual basis.
Positive jaws occurs when the figure for the percentage change in revenue is higher than, or less negative than, the corresponding rate for operating expenses.
Total dividends declared in respect of the half-year (US$m)
Created with Highcharts 4.2.1
Jun 2017Dec 2017Jun 2018
0
0
4,022
Stilettos Black Top Solid Boots Spikes Pu Women's Zipper Low Allhqfashion 4,020
6,202
0
Allhqfashion Low Solid Top Boots Women's Black Spikes Zipper Stilettos Pu Jun 2018 US$4,022
Dec 2017 US$6,202
Jun 2017 US$4,020
We plan to sustain the annual dividend in respect of the year at its current level for the foreseeable future. Growing our dividend in the future will depend on the overall profitability of the Group, delivering further release of less efficiently deployed capital and meeting regulatory capital requirements in a timely manner.
Video
John Flint , Group Chief Executive, HSBC, discusses the bank's Interim Results, its international network and value to customers.
Interim Results 2018: John Flint video
Group Chief Executive John Flints talks about HSBC's Interim Results 2018.
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HSBC Holdings plc published this content on 06 August 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 August 2018 05:55:02 UTC
