HSBC HOLDINGS(US:HSBC)2022-04-26 13:13Financial Performance - HSBC's reported revenue for 1Q22 was $12.5 billion, a decrease of $0.5 billion (4%) compared to 1Q21[4] - Reported profit before tax (PBT) for 1Q22 was $4.2 billion, down $1.6 billion (28%) compared to 1Q21[4, 13] - Adjusted PBT for 1Q22 was $4.7 billion, a decrease of $1.6 billion (25%) compared to 1Q21[13, 14] - Net interest income (NII) increased by $0.5 billion (7%) to $7.0 billion in 1Q22 compared to 1Q21, driven by rising global interest rates[14, 23] - Non-NII decreased by $1.1 billion (16%) to $5.6 billion in 1Q22 compared to 1Q21, negatively impacted by adverse insurance market movements[14, 16] - The ECL charge was $0.6 billion, compared to a $0.4 billion release in 1Q21[4, 16] Capital and Lending - The CET1 ratio decreased by 1.7 percentage points to 14.1% compared to 4Q21, with impacts from regulatory changes and adverse fair value movements[5, 15, 31] - Customer lending increased by $21 billion (2%) compared to 4Q21, with strong growth in CMB and GBM, supported by mortgage growth in WPB[4, 16] - Trade balances increased by $15 billion (22%) compared to 1Q21, reaching $86 billion[7] Regional Performance - Adjusted PBT in Europe decreased from $1.5 billion in 1Q21 to $0.7 billion in 1Q22[6] - Adjusted PBT in Asia decreased from $3.8 billion in 1Q21 to $2.9 billion in 1Q22, with Hong Kong decreasing from $1.9 billion to $1.1 billion[6] - Mainland China adjusted performance 1Q22 revenue up 9% vs 1Q21[11] Business Highlights - Strong Insurance performance excluding adverse market impacts; VNB up 25% vs 1Q21[7] - Real estate footprint down 25% since FY19[9]