汇丰控股(00005) - 2022 - 中期财报

Financial Performance - Adjusted profit after tax for the first half of 2022 was $8.4 billion, an increase from $8.1 billion in the first half of 2021[5] - Reported after-tax profit increased by $1.9 billion to $5.8 billion, including a deferred tax gain of $1.8 billion[11] - Adjusted pre-tax profit remained at $5 billion, with expected credit loss provisions recorded at $400 million, compared to a reversal of $300 million in the second quarter of 2021[11] - Adjusted revenue increased by 4% to $25.7 billion, driven by higher net interest income due to rising interest rates and asset growth[10] - The reported pre-tax profit for the first half of 2022 was $9.2 billion, a decrease of $1.7 billion compared to the first half of 2021, with a return on tangible equity of 9.9%[44] - The company reported a net profit of $9.215 billion for the first half of 2022, an increase from $8.422 billion in the same period of 2021, representing an increase of 9.4%[47] - The bank's revenue for the first half of 2022 was $25.236 billion, a decrease of $0.3 billion or 1% compared to $25.551 billion in the first half of 2021, primarily due to adverse currency translation effects[47] Capital and Equity - The common equity tier 1 capital ratio was reported at 13.6%, with a long-term target to reduce it below the range of 14% to 14.5%[7] - The common equity tier 1 capital ratio was 13.6%, down 2.2 percentage points since December 31, 2021, due to a decrease in common equity[10] - The common equity tier 1 ratio stood at 13.6%, down 2.2 percentage points from December 31, 2021, reflecting a decrease in common equity tier 1 capital of $16.8 billion[45] - The liquidity coverage ratio as of June 30, 2022, was 134%, with the group holding $657 billion in high-quality liquid assets[62] Cost Management - The company has achieved a cumulative reduction of $4.4 billion in costs as part of its cost-cutting plan[6] - The company aims to maintain adjusted operating expenses in line with 2021 levels, which were $15.5 billion in the first half of 2021[7] - Adjusted operating expenses are expected to remain at a similar level to 2021, despite inflationary pressures[12] - The group has cumulatively saved $4.4 billion from its cost-cutting plan, with a target cost of $4.6 billion[46] - The bank continues to manage costs rigorously, with a goal to stabilize adjusted costs at last year's levels despite rising inflation[18] Dividends and Payouts - The interim dividend per ordinary share for the first half of 2022 was $0.09[7] - The group announced an interim dividend of $0.09 per share, an increase of $0.02 from the first half of 2021[22] - The company plans to resume quarterly dividends in 2023, although initial dividends may be lower than the pre-2019 level of $0.1 per share[12] - The dividend payout ratio is expected to increase to approximately 50% for 2023 and 2024, with quarterly dividends set to resume in early 2023[24] Sustainable Financing and Investment - Sustainable financing and investment commitments since January 2020 reached $126.7 billion, with a target of $750 billion to $1 trillion by the end of 2030[7] - The company is focusing on financing projects that contribute to the transition to net-zero carbon emissions by 2030[6] - HSBC aims to provide and facilitate sustainable financing and investment between $750 billion and $1 trillion by the end of 2030[35] - The group has committed to releasing its first comprehensive climate transition plan in 2023, following science-based targets[24] Customer and Market Growth - Customer loans increased by $34 billion, reflecting growth in commercial banking and global markets[10] - The bank's international client base grew by 5% year-on-year, with international clients generating approximately twice the revenue of local clients[20] - The wealth management and personal banking business accounted for 44% of the group's tangible equity in the first half of 2022, up from 42% in the first half of 2021[28] - New net asset inflows increased by $39 billion in H1 2022, with Asia contributing $22 billion[30] Technology and Digital Services - The adoption rate of cloud technology increased from approximately 25% at the end of H1 2021 to 31% at the end of H1 2022[34] - The company is testing central bank digital currencies in collaboration with multiple central banks[32] - The company is set to launch a digital wallet, Global Wallet, in more markets later in 2022[31] - The number of digital service employees in the digital business services department decreased from approximately 31,400 to 28,400[33] Risk Management and Economic Outlook - The company continues to actively manage risks to support strategic objectives and ensure business growth amid macroeconomic challenges[96] - The group continues to monitor credit loss models closely, adjusting for potential impacts from geopolitical and macroeconomic risks[103] - The ongoing geopolitical situation, including sanctions and trade restrictions, continues to create uncertainty for the group's clients and operations[103] - The company is enhancing monitoring measures to address technology and cybersecurity risks amid geopolitical tensions[111] Employee Development and Diversity - The company has committed to doubling the number of senior leaders from Black backgrounds by 2025[39] - The total hours of learning opportunities for employees increased from 22,400 hours in H1 2021 to approximately 175,000 hours[35] - The company provided approximately 175,000 hours of training for employees on key future skills, including sustainability and digital[39] - The proportion of female senior management positions increased to 32.5% by mid-2022, compared to 31.1% at the end of H1 2021[35] Strategic Acquisitions and Partnerships - HSBC completed the acquisition of AXA Singapore and increased its stake in HSBC Qianhai Securities to 90%[18] - The company announced a strategic acquisition of a smaller tech firm, expected to enhance its product offerings and market reach[122] - The company is exploring acquisition opportunities to enhance its product portfolio and market presence[183] Future Guidance and Projections - The company provided a positive outlook, projecting a revenue growth of 20% for the next quarter, aiming for €1.44 billion[122] - The company provided guidance for the next quarter, expecting revenue to be in the range of $950 million to $1 billion, reflecting a potential growth of 3.8% to 9.3%[142] - Future guidance indicates a strong focus on sustainability initiatives, with a commitment to reduce carbon emissions by 25% by 2025[160]