但生银行 HANG SENG BANK 1H25 results presentation 30 Jul 2025 1. A customer is classified as Mainlander (onshore or offshore) at account opening if they declare one of the following: 1) holding a PRC ID or China passport; OR being of Chinese nationality and residing in HK temporarily (e.g. student visa, work visa); OR being of Chinese nationality and having mandarin as their preferred language 2. Southbound loans refers to average customer loans booked in HK that originate from mainland China-based customers ▪ ...

Core Viewpoint - HSBC Holdings plc has seen an 18.3% increase in shares this year, outperforming the S&P 500 Index's 1.2% rise, but underperforming its industry's growth of 22.2% [1] Group 1: Performance Overview - HSBC's stock has outperformed peers like UBS Group AG (4.2% gain) and Mitsubishi UFJ Financial Group, Inc. (14.2% gain) [1] - The company's focus on Asia has been a significant driver of its performance, with over half of its business now centered in the region [4] Group 2: Strategic Initiatives - HSBC has re-launched its private banking business in India and received approval to open branches in 20 new cities, alongside a partnership with Bajaj Allianz General Insurance [5] - In mainland China, HSBC is expanding its wealth business through lifestyle-focused centers and acquisitions, including Citigroup's retail wealth arm [5] - The acquisition of AXA Insurance in Singapore and L&T Investment Management Limited is expected to strengthen HSBC's position in Asia [6] Group 3: Restructuring and Cost Management - HSBC is engaged in restructuring efforts aimed at enhancing operational efficiency, targeting $1.5 billion in annualized savings by the end of 2026 [9] - The company plans to incur $1.8 billion in severance and upfront charges to execute its business simplification efforts [10] - HSBC is winding down its operations in the U.K., Europe, and the U.S., while focusing on Asia and the Middle East [11] Group 4: Financial Position - As of March 31, 2025, HSBC's capital ratios remain strong, supported by steady capital generation [12] - The company returned $26.9 billion to shareholders in 2024 and expects a 50% dividend payout ratio for 2025, along with a share repurchase program of up to $3 billion [13] Group 5: Challenges - HSBC has faced rising operating expenses, with a projected increase of 3% in 2025 due to market share growth initiatives [15] - Revenue growth has been muted, with a negative compound annual growth rate of 2.7% over the three years ending in 2022, impacted by subdued loan demand and a challenging macroeconomic environment [16][17]