HSBC HOLDINGS(US:HSBC)2020-10-27 11:47Financial Performance - Reported profit before tax (PBT) decreased by $1.8 billion (36%) to $3.1 billion compared to 3Q19[1] - Adjusted PBT decreased by $1.1 billion (21%) to $4.3 billion compared to 3Q19[1] - Adjusted revenue decreased by $1.3 billion (10%) to $12.1 billion compared to 3Q19[11] - Costs decreased by $0.2 billion (3%) to $7.4 billion compared to 3Q19[11] - Expected credit losses (ECL) decreased by $3.2 billion (80%) to $0.8 billion compared to 2Q20[11, 27] Capital and Restructuring - CET1 ratio increased by 0.6 percentage points to 15.6% compared to 2Q20[10, 11] - Customer deposits increased by $164 billion (12%) to $1.6 trillion compared to 3Q19[1, 11] - $41 billion of risk-weighted assets (RWA) saves have been delivered year-to-date (YTD)[4] - The company expects to exceed its original FY22 targets of $100 billion of gross RWA reductions[1, 8] Regional Focus - Deposits in Asia are up 7% year-over-year to $732 billion[5] - Loans in Asia are broadly stable year-over-year at $484 billion[5] - Hong Kong's 3Q20 adjusted ECL is down 49% year-over-year to $0.1 billion[5]