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RNS Number : 4328F

Standard Chartered PLC

30 October 2025

Standard Chartered PLC

Q3'25 Results

30 October 2025

Registered in England under company No. 966425

Registered Office: 1 Basinghall Avenue, London, EC2V 5DD, UK

Table of contents


Performance highlights	01
Statement of results	02
Group Chief Financial Officer's review	03
Financial review	06
Supplementary financial information	12
Underlying versus reported results reconciliations	23
Risk review	25
Capital review	28
Financial statements	32
Other supplementary financial information	37

Unless another currency is specified, the word 'dollar' or symbol '$' in this document means US dollar and the word 'cent' or symbol 'c' means one-hundredth of one US dollar.

Unless the context requires, within this document, 'China' refers to the People's Republic of China and, for the purposes of this document only, excludes Hong Kong Special Administrative Region (Hong Kong), Macau Special Administrative Region (Macau) and Taiwan. 'Korea' or 'South Korea' refers to the Republic of Korea.

Within the tables in this report, blank spaces indicate that the number is not disclosed, dashes indicate that the number is zero and nm stands for not meaningful. Standard Chartered PLC is incorporated in England and Wales with limited liability. Standard Chartered PLC is headquartered in London.

The Group's head office provides guidance on governance and regulatory standards. Standard Chartered PLC stock codes are: HKSE 02888 and LSE STAN.LN

Standard Chartered PLC - Results for the third quarter ended 30 September 2025

All figures are presented on an underlying basis and comparisons are made to 2024 on a constant currency basis, unless otherwise stated. A reconciliation of restructuring and other items excluded from underlying results is set out on pages 23-24.

Bill Winters, Group Chief Executive, said:

"We now expect to deliver an underlying return on tangible equity of around 13% in 2025, hitting our target a year earlier than planned. Progress is broad-based, but our sharper strategic focus on servicing our clients' cross-border and affluent banking needs is paying off, with strong double-digit growth in Wealth Solutions and Global Banking, alongside good momentum in our Global Markets flow business."

Selected information on Q3'25 financial performance with comparisons to Q3'24 unless otherwise stated

• Operating income of $5.1bn up 5%; up 5% excluding notable items1

- Net interest income (NII) down 1% to $2.7bn

- Non NII up 12% to $2.4bn, largely driven by Wealth Solutions and Global Banking

- Record quarter in Wealth Solutions with income up 27%, with strong performance in investment products

- Global Banking up 23%, driven by higher origination and distribution volumes, and increased capital markets activity

• Operating expenses up 4% to $3bn, driven by targeted investments for business growth partly offset by efficiency saves

• Credit impairment charge of $195m; Wealth & Retail Banking charge of $107m down $73m due to unsecured portfolio optimisation. There was a $64m charge in Corporate & Investment Banking

• Restructuring and other charges of $219m include $138m related to the Fit for Growth programme

• Profit before tax of $2bn

• Return on Tangible Equity (RoTE) of 13.4%, up 260bps

• Balance sheet remains strong, liquid and well diversified with underlying loans and advances to customers up 1% and underlying customer deposits up 2% quarter-on-quarter

• The Group remains strongly capitalised with a Common Equity Tier 1 (CET1) ratio of 14.2%, down 18bps quarter-on-quarter; up 32bps excluding impact of share buyback

• Tangible net asset value per share of $16.84, up 4 cents quarter-on-quarter, up 175 cents year-on-year

Guidance

We have upgraded our guidance for RoTE and 2025 income growth. All other guidance remains unchanged:

• Income:

- Operating income to increase 5-7% CAGR in 2023-2026 at ccy excluding the deposit insurance reclassification; tracking towards the upper end of the range

- 2025 income growth now expected to be towards the upper end of the 5-7% range at ccy excluding notable items; previously guided to around the bottom of the range

• Expenses:

- Operating expenses to be below $12.3bn2 in 2026 at ccy, including the UK bank levy and the ongoing impact of the deposit insurance reclassification

- Positive income-to-cost jaws in each year at ccy, excluding notable items

• Assets and RWA:

- Low single-digit percentage growth in underlying loans and advances to customers and RWA

- Basel 3.1 day-1 RWA impact expected to be close to neutral

- Continue to expect the loan-loss rate to normalise towards the historical through-the-cycle 30 to 35bps range

• Capital:

- Continue to operate dynamically within the full 13-14% CET1 ratio target range

- Plan to return at least $8bn to shareholders cumulative 2024 to 2026

- Continue to increase full-year dividend per share over time

• RoTE now expected to be around 13% in 2025 and to progress thereafter

1. Notable items relating to Ghana hyperinflation and revaluation of FX positions in Egypt

2. Currently running at $12.4bn due to FX

Page 01

Statement of results


	3 months ended 30.09.25 $million	3 months ended 30.09.24 $million	Change1 %
Underlying performance
Operating income	5,147	4,904	5
Operating expenses	(2,953)	(2,840)	(4)
Credit impairment	(195)	(178)	(10)
Other impairment	(20)	(92)	78
Profit from associates and joint ventures	6	13	(54)
Profit before taxation	1,985	1,807	10
Profit attributable to ordinary shareholders²	1,208	1,005	20
Return on ordinary shareholders' tangible equity (%)	13.4	10.8	260bps
Cost to income ratio (%)	57.4	57.9	50bps
Reported performance7
Operating income	5,110	4,950	3
Operating expenses	(3,144)	(2,971)	(6)
Credit impairment	(188)	(178)	(6)
Goodwill & other impairment	(22)	(88)	75
Profit from associates and joint ventures	10	9	11
Profit before taxation	1,766	1,722	3
Taxation	(468)	(575)	19
Profit for the period	1,298	1,147	13
Profit attributable to parent company shareholders	1,300	1,150	13
Profit attributable to ordinary shareholders2	1,028	931	10
Return on ordinary shareholders' tangible equity (%)	10.5	10.0	50bps
Cost to income ratio (%)	61.5	60.0	(150)bps
Net interest margin (%) (adjusted)6,9	1.94	2.07	(13)bps
	30.09.25 $million	30.09.24 $million	Change1 %
Balance sheet and capital
Total assets	913,650	872,173	5
Total equity	53,220	52,736	1
Average tangible equity attributable to ordinary shareholders²	38,878	37,151	5
Loans and advances to customers	285,127	287,257	(1)
Customer accounts	526,284	478,140	10
Risk weighted assets	258,378	248,924	4
Total capital	52,531	53,658	(2)
Total capital (%)	20.3	21.6	(122)bps
Common Equity Tier 1	36,594	35,425	3
Common Equity Tier 1 ratio (%)	14.2	14.2	(7)bps
Advances-to-deposits ratio (%)3	50.7	52.7	200bps
Liquidity coverage ratio (%)	151	143	(810)bps
Leverage ratio (%)	4.6	4.7	(6)bps
	3 months ended 30.09.25	3 months ended 30.09.24	Change
Information per ordinary share8
Earnings per share4 - underlying (cents)	52.3	39.8	12.5
- reported (cents)	44.5	36.8	7.7
Net asset value per share5 (cents)	1,952	1,762	190
Tangible net asset value per share5 (cents)	1,684	1,509	175
Number of ordinary shares at period end (millions)	2,293	2,484	(8)

1 Variance is better/(worse) other than assets, liabilities and risk-weighted assets. Change is the basis points (bps) difference between the two periods rather than the percentage change for total capital ratio (%), common equity tier 1 ratio (%), net interest margin (%), advances-to-deposits ratio (%), liquidity coverage ratio (%), leverage ratio (%), cost-to-income ratio (%) and return on ordinary shareholders' tangible equity (%)

2 Profit/(loss) attributable to ordinary shareholders is after the deduction of dividends payable to the holders of non-cumulative redeemable preference shares and Additional Tier 1 securities classified as equity

3 When calculating this ratio, total loans and advances to customers excludes reverse repurchase agreements and other similar secured lending, excludes approved balances held with central banks, confirmed as repayable at the point of stress and includes loans and advances to customers held at fair value through profit and loss. Total customer accounts include customer accounts held at fair value through profit or loss

4 Represents the underlying or reported earnings divided by the basic weighted average number of shares. Results represent three months ended the reporting period

5 Calculated on period end net asset value, tangible net asset value and number of shares

6 Net interest margin is calculated as adjusted net interest income divided by average interest-earning assets, annualised

7 Reported performance/results within this interim financial report means amounts reported under UK-adopted International Accounting Standards and International Financial Reporting Standards

8 Change is cents difference between the two periods for earnings per share, net asset value per share and tangible net asset value per share. Number of ordinary shares at period end is percentage difference between the two periods

9 Net interest income has been re-presented in line with the RNS on Re-Presentation of Financial Information issued on 2 April 2025 to reflect the reclassification of funding cost mismatches to Non NII

Page 02

Group Chief Financial Officer's review

Summary of financial performance

All commentary that follows is on an underlying basis and comparisons are made to the equivalent period in 2024 on a constant currency basis, unless otherwise stated. Q3 2024 included items totalling $12 million (Q3 2025: $10 million loss) relating to gains on revaluation of FX positions in Egypt and a hyperinflationary accounting adjustment in Ghana (the notable items).

Our engines of growth continued to deliver in the third quarter of 2025 amidst ongoing macro environment uncertainty. Operating income of $5.1 billion grew 5 per cent driven by record quarterly performances in Wealth Solutions and Global Banking. Operating expenses increased 4 per cent year-on-year driven by continued investment into business initiatives. Credit impairment charges of $195 million were equivalent to an annualised loan-loss rate of 24 basis points. This resulted in an underlying profit before tax of $2 billion, up 9 per cent and underlying earnings per share of 52.3 cents, up 31 per cent including the benefit from a reduction in share count.

The Group remains well capitalised and highly liquid with a diverse and stable deposit base. The liquidity coverage ratio of 151 per cent reflects disciplined asset and liability management. The Common Equity Tier 1 (CET1) ratio of 14.2 per cent remains above the target range.

Operating income of $5.1 billion increased by 5 per cent driven by double-digit growth in both Wealth Solutions and Global Banking.

Net interest income (NII) was down 1 per cent, as the benefit from higher volumes and improved mix was offset by the impact of lower interest rates and margin compression, albeit pass-through rates remain actively managed.

Non NII grew 12 per cent. This was driven by strong performance in both Wealth Solutions and Global Banking. Global Markets was up 1 per cent, as 12 per cent increase in flow income was broadly offset by softer episodic income.

Operating expenses increased 4 per cent. This was largely driven by targeted investments into business growth initiatives including Wealth and Retail Banking (WRB) relationship managers and Corporate and Investment Banking (CIB) capabilities, partly offset by efficiency saves. The cost-to-income ratio improved 1 percentage point to 57 per cent.

Credit impairment of $195 million increased $ 17 million over the prior year. The WRB charge of $107 million was $73 million lower reflecting a reduction in unsecured exposures from portfolio optimisation actions. CIB impairment was a net charge of $64 million including an additional $25 million precautionary overlay for Hong Kong CRE.

Other impairment decreased by $72 million to $20 million primarily due to the non-repeat of software asset write-offs.

Profit from associates and joint ventures decreased by $7 million primarily due to an increased share of losses within the Ventures segment.

Restructuring, FFG, Debit Valuation Adjustment (DVA) and other items totalled $219 million including a $138 million charge related to the Fit for Growth (FFG) programme and a negative $27 million movement in DVA.

Taxation for the third quarter was $468 million, with an underlying effective tax rate of 25.6 per cent, down 6.8 per cent on the prior year, primarily due to reduced tax losses in the UK for which no deferred tax assets are recognised.

Underlying RoTE of 13.4 per cent was up 260 basis points, reflecting an increase in underlying profits and a lower effective tax rate partly offset by higher average tangible equity. On a reported basis, RoTE increased by 50 basis points to 10.5 per cent with growth in underlying profits party offset by higher charges relating to restructuring and other items.

Underlying basic earnings per share (EPS) increased 12.5 cents or 31 per cent to 52.3 cents and reported basic EPS increased 7.7 cents or 21 per cent to 44.5 cents reflecting both the increase in profits and the reduction in share count following execution of successive share buyback programmes.

Diego De Giorgi

Group Chief Financial Officer

30 October 2025

Page 03

Group Chief Financial Officer's review continued

The Group delivered a strong performance in the third quarter of 2025

Summary of financial performance


	Q3'25 $million	Q3'24 $million	Change %	Constant currency change¹ %	Q2'25 $million	Change %	Constant currency change¹ %	YTD'25 $million	YTD'24 $million	Change %	Constant currency change¹ %
Underlying net interest income2	2,737	2,769	(1)	(1)	2,703	1	1	8,236	8,119	1	2
Underlying non NII2	2,410	2,135	13	12	2,806	(14)	(15)	7,810	6,743	16	16
Underlying operating income	5,147	4,904	5	5	5,509	(7)	(7)	16,046	14,862	8	8
Underlying operating expenses	(2,953)	(2,840)	(4)	(4)	(3,050)	3	3	(8,918)	(8,513)	(5)	(4)
Underlying operating profit before impairment and taxation	2,194	2,064	6	5	2,459	(11)	(12)	7,128	6,349	12	14
Credit impairment	(195)	(178)	(10)	(10)	(117)	(67)	(62)	(531)	(427)	(24)	(23)
Other impairment	(20)	(92)	78	78	(3)	nm	nm	(29)	(235)	88	88
Profit from associates and joint ventures	6	13	(54)	(54)	64	(91)	(90)	97	77	26	26
Underlying profit before taxation	1,985	1,807	10	9	2,403	(17)	(18)	6,665	5,764	16	17
Restructuring5	(54)	(102)	47	51	(40)	(35)	(19)	(191)	(166)	(15)	(17)
FFG5	(138)	11	nm	nm	(87)	(59)	(59)	(298)	(75)	nm	nm
DVA	(27)	5	nm	nm	9	nm	nm	(22)	(21)	(5)	(5)
Other items	-	1	nm	nm	(5)	nm	nm	(5)	(288)	98	98
Reported profit before taxation	1,766	1,722	3	2	2,280	(23)	(23)	6,149	5,214	18	20
Taxation	(468)	(575)	19	19	(546)	14	17	(1,525)	(1,698)	10	9
Profit for the period	1,298	1,147	13	12	1,734	(25)	(25)	4,624	3,516	32	33
Net interest margin (%)3,4	1.94	2.07	(13)		1.98	(4)		2.01	2.01	-
Underlying return on tangible equity (%)4	13.4	10.8	260		19.7	(630)		16.5	12.9	360
Underlying basic earnings per share (cents)	52.3	39.8	31		76.6	(32)		191.9	138.5	39

1 Comparisons presented on the basis of the current period's transactional currency rate, ensuring like-for-like currency rates between the two periods

2 Underlying Net Interest Income has been re-presented in line with the RNS on Re-Presentation of Financial Information issued on 2 April 2025 to reflect the reclassification of funding cost mismatches to Underlying non-Net Interest Income

3 Net interest margin has been restated due to the revision of underlying net interest income as outlined in footnote 2

4 Change is the basis points (bps) difference between the two periods rather than the percentage change

5 FFG (Fit for Growth) charge previously reported within Restructuring has been re-presented as a separate item

Page 04

Group Chief Financial Officer's review continued

Reported financial performance summary


	Q3'25 $million	Q3'24 $million	Change %	Constant currency change¹ %	Q2'25 $million	Change %	Constant currency change¹ %	YTD'25 $million	YTD'24 $million	Change %	Constant currency change¹ %
Net interest income	1,408	1,482	(5)	(5)	1,463	(4)	(4)	4,452	4,657	(4)	(4)
Non NII	3,702	3,468	7	6	4,064	(9)	(9)	11,564	10,084	15	15
Reported operating income	5,110	4,950	3	3	5,527	(8)	(8)	16,016	14,741	9	9
Reported operating expenses	(3,144)	(2,971)	(6)	(6)	(3,201)	2	2	(9,391)	(9,027)	(4)	(4)
Reported operating profit before impairment and taxation	1,966	1,979	(1)	(1)	2,326	(15)	(16)	6,625	5,714	16	18
Credit impairment	(188)	(178)	(6)	(7)	(119)	(58)	(54)	(524)	(418)	(25)	(25)
Goodwill & other impairment	(22)	(88)	75	74	(4)	nm	nm	(41)	(235)	83	83
Profit from associates and joint ventures	10	9	11	22	77	(87)	(85)	89	153	(42)	(42)
Reported profit before taxation	1,766	1,722	3	2	2,280	(23)	(23)	6,149	5,214	18	20
Taxation	(468)	(575)	19	19	(546)	14	17	(1,525)	(1,698)	10	9
Profit for the period	1,298	1,147	13	12	1,734	(25)	(25)	4,624	3,516	32	33
Reported return on tangible equity (%)2	10.5	10.0	50		17.9	(740)		14.4	11.3	310
Reported basic earnings per share (cents)	44.5	36.8	21		72.5	(39)		173.9	120.2	45

1 Comparisons presented on the basis of the current period's transactional currency rate, ensuring like-for-like currency rates between the two periods

2 Change is the basis points (bps) difference between the two periods rather than the percentage change

Page 05

Financial review

Operating income by product


	Q3'25 $million	Q3'241 $million	Change %	Constant currency change2 %	Q2'25 $million	Change %	Constant currency change2 %	YTD'25 $million	YTD'241 $million	Change %	Constant currency change2 %
Transaction Services	1,488	1,572	(5)	(6)	1,469	1	1	4,484	4,768	(6)	(6)
Payments & Liquidity	1,016	1,112	(9)	(9)	1,013	-	-	3,090	3,412	(9)	(9)
Securities & Prime Services	166	156	6	7	158	5	5	475	450	6	6
Trade & Working Capital	306	304	1	-	298	3	2	919	906	1	2
Global Banking	588	475	24	23	548	7	7	1,684	1,435	17	17
Lending & Financial Solutions	496	407	22	21	476	4	3	1,424	1,243	15	15
Capital Markets & Advisory	92	68	35	33	72	28	29	260	192	35	35
Global Markets	848	840	1	1	1,172	(28)	(28)	3,203	2,677	20	20
Macro Trading	678	683	(1)	(1)	961	(29)	(30)	2,617	2,198	19	19
Credit Trading	206	174	18	18	187	10	10	615	506	22	22
Valuation & Other Adj	(36)	(17)	(112)	(100)	24	nm	nm	(29)	(27)	(7)	(7)
Wealth Solutions	890	694	28	27	742	20	20	2,409	1,928	25	25
Investment Products	691	507	36	35	544	27	27	1,794	1,375	30	30
Bancassurance	199	187	6	5	198	1	-	615	553	11	12
Deposits & Mortgages	1,034	1,051	(2)	(1)	990	4	4	3,030	3,112	(3)	(2)
CCPL & Other Unsecured Lending	277	281	(1)	(2)	282	(2)	(3)	816	811	1	1
Ventures	39	43	(9)	(14)	278	(86)	(86)	359	123	192	191
Digital Banks	49	39	26	20	46	7	4	137	101	36	35
SCV	(10)	4	nm	nm	232	(104)	(105)	222	22	nm	nm
Treasury & Other	(17)	(52)	67	69	28	(161)	(153)	61	8	nm	nm
Total underlying operating income	5,147	4,904	5	5	5,509	(7)	(7)	16,046	14,862	8	8

1 Products have been re-presented in line with the RNS on Re-Presentation of Financial Information issued on 2 April 2025 with no change in total income

2 Comparisons presented on the basis of the current period's transactional currency rate, ensuring like-for-like currency rates between the two periods

The operating income by product commentary that follows is on an underlying basis and comparisons are made to the equivalent period in 2024 on a constant currency basis, unless otherwise stated. Q3 2024 included items totalling $12 million (Q3 2025: $10 million loss) relating to gains on revaluation of FX positions in Egypt and a hyperinflationary accounting adjustment in Ghana (the notable items).

Transaction Services income decreased 6 per cent as growth in Securities & Prime Services was more than offset by lower Payments & Liquidity income. Payments & Liquidity income decreased 9 per cent, driven by the impact of lower interest rates and margin compression, albeit passthrough rates continued to be tightly managed and there was growth in balances. Securities & Prime Services income grew 7 per cent due to higher custody balances and client volumes. Trade & Working Capital income remained flat as growth in fees was offset by lower volumes and margins.

Global Banking income grew 23 per cent, a record quarterly performance. Lending & Financial Solutions income grew 21 per cent as increased deal completion led to higher origination and distribution volumes and increased carry income. Capital Markets & Advisory fee income grew 33 per cent on the back of increased Mergers & Acquisitions transactions.

Global Markets income was up 1 per cent. Flow income grew by 12 per cent with strong client activity in EM rates products, as we continued to capture market opportunities across our footprint. Episodic income was softer due to lower levels of market volatility relative to the prior year.

Wealth Solutions income was up 27 per cent, with 35 per cent growth in Investment Products and 5 per cent growth in Bancassurance. This was driven by momentum in affluent new-to-bank onboarding, with 67,000 clients onboarded during the third quarter of 2025. Affluent net-new-money inflow in the third quarter was $13 billion with a higher proportion of wealth sales than in the previous quarter.

Deposits & Mortgages income decreased 1 per cent. The benefit from higher Time Deposit volumes was fully offset by the impact of lower interest rates, while Mortgages income doubled over the prior year primarily from lower funding cost and higher volumes in a few select markets.

CCPL & Other Unsecured Lending income was down 2 per cent as lower volumes resulting from portfolio optimisation actions was partly countered by higher margins.

Ventures income was down 14 per cent. Digital Banks income was up 20 per cent driven by higher Deposit volumes and fee income as they continue to grow their customer base. SCV income was lower due to negative mark-to market movements on underlying investments.

Page 06

Financial review continued

Treasury & Other improved by $35 million primarily from the repricing of longer dated assets.

Profit before tax by client segment


	Q3'25 $million	Q3'241 $million	Change %	Constant currency change2 %	Q2'25 $million	Change %	Constant currency change2 %	YTD'25 $million	YTD'241 $million	Change %	Constant currency change2 %
Corporate & Investment Banking1	1,319	1,359	(3)	(3)	1,701	(22)	(23)	4,761	4,457	7	8
Wealth & Retail Banking1	930	737	26	23	652	43	43	2,328	2,073	12	13
Ventures	(114)	(98)	(16)	(21)	130	(188)	(187)	(68)	(295)	77	77
Central & other items1	(150)	(191)	21	22	(80)	(88)	(74)	(356)	(471)	24	28
Underlying profit before taxation	1,985	1,807	10	9	2,403	(17)	(18)	6,665	5,764	16	17

1 Underlying profit before taxation has been re-presented in line with the RNS on Re-Presentation of Financial Information issued on 2 April 2025 to reflect the reallocation of Treasury income and certain costs across segments

2 Comparisons presented on the basis of the current period's transactional currency rate, ensuring like-for-like currency rates between the two periods

The client segment commentary that follows is on an underlying basis and comparisons are made to the equivalent period in 2024 on a constant currency basis, unless otherwise stated. Q3 2024 included items totalling $12 million (Q3 2025: $10 million loss) relating to gains on revaluation of FX positions in Egypt and a hyperinflationary accounting adjustment in Ghana (the notable items).

Corporate & Investment Banking (CIB) profit before taxation decreased 3 per cent. Income grew 2 per cent with strong double-digit growth in Global Banking partly offset by a decrease in Transaction Services income. Expenses were 4 per cent higher and credit impairment charge was $64 million compared to a $10 million release in the prior year.

Wealth & Retail Banking (WRB) profit before taxation increased 23 per cent, with income up 7 per cent led by a record performance in Wealth Solutions. Expenses increased 5 per cent from increased investment spend and hiring of affluent relationship managers. Credit impairment charge of $107 million was down $73 million from a reduction in unsecured balances primarily from portfolio optimisation actions.

Ventures losses increased by $16 million to $114 million. Income was down $4 million as higher income from Digital Banks was offset by negative income from SC Ventures. Expenses were lower by 2 per cent and credit impairment was $2 million lower compared to prior year. Within SC Ventures other impairment charge relating to write-off of investments increased by $14 million.

Central & Other items (C&O) recorded a loss before tax of $150 million which was $41 million lower than the prior year benefitting from repricing of longer dated assets.

Adjusted net interest income and margin


	Q3'25 $million	Q3'24 $million	Change¹ %	Q2'25 $million	Change¹ %	YTD'25 $million	YTD'24 $million	Change¹ %
Adjusted net interest income2	2,737	2,769	(1)	2,702	1	8,236	8,131	1
Average interest-earning assets	560,336	532,459	5	546,709	2	547,771	539,984	1
Average interest-bearing liabilities	599,796	540,691	11	571,401	5	576,100	538,643	7

Gross yield (%)3	4.52	5.34	(82)	4.61	(9)	4.67	5.37	(70)
Rate paid (%)3	2.41	3.22	81	2.51	(10)	2.53	3.37	(84)
Net yield (%)3	2.11	2.12	(1)	2.10	1	2.14	2.00	14
Net interest margin (%)3,4	1.94	2.07	(13)	1.98	(4)	2.01	2.01	-

1 Variance is better/(worse) other than assets and liabilities which is increase/(decrease)

2 Adjusted net interest income has been re-presented in line with the RNS on Re-Presentation of Financial Information issued on 2 April 2025 to reflect the reclassification of funding cost mismatches to Non NII. Adjusted net interest income is reported net interest income less trading book funding cost, Treasury currency management activities, cash collateral and prime services

3 Change is the basis points (bps) difference between the two periods rather than the percentage change. Net interest margin has been re-presented due to the revision to Adjusted net interest income as outlined in footnote 2

4 Adjusted net interest income divided by average interest-earning assets, annualised

Page 07

Financial review continued

Adjusted net interest income, was down 1 per cent compared to the prior year as the benefit from higher volumes and improved mix was fully offset by the impact of lower rates and margins. Compared to the prior quarter, the adjusted net interest income was up 1 per cent from higher day count in the third quarter and volume growth while the net interest margin was 4 basis points lower as the impact of falling rates and margin compression was partially offset by better WRB CASA mix.

Average interest-earning assets were up 2 per cent on the prior quarter driven by growth in Treasury balances, Mortgages and Wealth Lending within WRB. Gross yields decreased 9 basis points compared to the prior quarter due to the fall in interest rates and higher Treasury asset mix in response to strong customer deposit inflows.

Average interest-bearing liabilities increased 5 per cent on the prior quarter from strong in growth in customer accounts primarily in WRB Term and CASA deposits. The rate paid on liabilities decreased 10 basis points compared with the average in the prior quarter, reflecting the impact of interest rate movements and improved liability mix.

Credit risk summary

Income Statement (Underlying view)


	Q3'25 $million	Q3'24 $million	Change1 %	Q2'25 $million	Change1 %	YTD'25 $million	YTD'24 $million	Change1 %
Total credit impairment charge/(release) 2	195	178	10	117	67	531	427	24
Of which stage 1 and 22	55	126	(56)	67	(18)	234	199	18
Of which stage 32	140	52	169	50	180	297	228	30

1 Variance is increase/(decrease) comparing current reporting period to prior reporting periods

2 Refer to Credit Impairment charge table in Risk review section for reconciliation from underlying to reported credit impairment

Balance sheet


	30.09.25 $million	30.06.25 $million	Change1 %	31.12.24 $million	Change1 %	30.09.24 $million	Change1 %
Gross loans and advances to customers2	289,609	291,811	(1)	285,936	1	292,394	(1)
Of which stage 1	271,037	273,155	(1)	269,102	1	275,490	(2)
Of which stage 2	12,975	12,520	4	10,631	22	10,369	25
Of which stage 3	5,597	6,136	(9)	6,203	(10)	6,535	(14)

Expected credit loss provisions	(4,482)	(5,080)	(12)	(4,904)	(9)	(5,137)	(13)
Of which stage 1	(509)	(553)	(8)	(483)	5	(496)	3
Of which stage 2	(515)	(465)	11	(473)	9	(390)	32
Of which stage 3	(3,458)	(4,062)	(15)	(3,948)	(12)	(4,251)	(19)

Net loans and advances to customers	285,127	286,731	(1)	281,032	1	287,257	(1)
Of which stage 1	270,528	272,602	(1)	268,619	1	274,994	(2)
Of which stage 2	12,460	12,055	3	10,158	23	9,979	25
Of which stage 3	2,139	2,074	3	2,255	(5)	2,284	(6)

Cover ratio of stage 3 before/after collateral (%)3	62 / 78	66 / 82	(4) / (4)	64 / 78	(2) / 0	65 / 81	(3) / (3)
Credit grade 12 accounts ($million)	1,373	2,095	(34)	969	42	943	46
Early alerts ($million)5	5,796	4,485	29	5,559	4	5,100	14
Investment grade corporate exposures (%)3	75	75	-	74	1	74	1
Aggregate top 20 corporate exposures as a percentage of Tier 1 capital3,4	63	56	7	61	2	60	3

1. Variance is increase/(decrease) comparing current reporting period to prior reporting periods

2. Includes reverse repurchase agreements and other similar secured lending held at amortised cost of $6,162 million (30 June 2025: $4,189 million; 31 December 2024: $9,660 million; 30 September 2024: $8,955 million)

3. Change is the percentage points difference between the two points rather than the percentage change

4. Excludes repurchase and reverse repurchase agreements

5. Includes non-purely precautionary early alert balances

Page 08

Financial review continued

Asset quality remained resilient in the third quarter. The Group continues to actively manage the credit portfolio whilst remaining alert to a volatile and challenging external environment with evolving policy changes which may lead to idiosyncratic stress in a select number of geographies and industry sectors.

Credit impairment was a $195 million charge in the quarter, representing an annualised loan-loss rate of 24 basis points. There was a $107 million charge in WRB, down $73 million following portfolio optimisation actions primarily in the unsecured portfolio. The Ventures charge of $13 million was broadly in line with the prior year while in CIB, there was a net $64 million charge in the quarter as new impairments were partly offset by releases in other parts of the portfolio. The Group retains a $60 million overlay for clients who have exposure to the Hong Kong commercial real estate (CRE) sector and a management overlay of $49 million related to China CRE. During the third quarter, CRE overlays increased $25 million for Hong Kong to capture the increased pressure on liquidity, interest serviceability and repayment capacity. The China overlay reduced by $9 million primarily driven by repayments.

Gross stage 3 loans and advances to customers of $5.6 billion were 9 per cent lower compared to 30 June 2025 as repayments, client upgrades, reduction in exposures and write-offs more than offset new inflows. Credit-impaired loans represent 1.9 per cent of gross loans and advances, 19 basis points reduction on the prior quarter.

The stage 3 cover ratio of 62 per cent dropped 4 per cent as compared to 30 June 2025 while the cover ratio post collateral at 78 per cent also dropped by 4 percentage points, both due to the decrease in gross stage 3 balances and provisions, partly from the restructuring of an exposure previously in stage 3.

The total of Credit grade 12 balances at $1.4 billion and early alert accounts of $5.8 billion together increased by $0.6 billion since 30 June 2025 from movements in sovereigns-related exposures and Hong Kong CRE exposures. The Group is continuing to carefully monitor its exposures in vulnerable sectors and select geographies, given the unusual stresses caused by the currently difficult macro-economic environment.

The proportion of investment grade corporate exposures has remained stable at 75 per cent since 30 June 2025.

Restructuring, FFG, DVA and Other items


	Q3'25				Q3'24				Q2'25
Restructuring $million	FFG $million	DVA $million	Other items $million	Restructuring1 $million	FFG1 $million	DVA $million	Other items $million	Restructuring $million	FFG $million	DVA $million	Other items $million
Operating income	(10)	-	(27)	-	40	-	5	1	14	-	9	(5)
Operating expenses	(57)	(134)	-	-	(142)	11	-	-	(64)	(87)	-	-
Credit impairment	7	-	-	-	-	-	-	-	(2)	-	-	-
Other impairment	2	(4)	-	-	4	-	-	-	(1)	-	-	-
Profit/(loss) from associates and joint ventures	4	-	-	-	(4)	-	-	-	13	-	-	-
Profit/(loss) before taxation	(54)	(138)	(27)	-	(102)	11	5	1	(40)	(87)	9	(5)

1 FFG (Fit for Growth) charge previously reported within Restructuring has been re-presented as a separate item

The Group's reported performance is adjusted for profits or losses of a capital nature, amounts consequent to investment transactions driven by strategic intent, other infrequent and/or exceptional transactions that are significant or material in the context of the Group's normal business earnings for the period and items which management and investors would ordinarily identify separately when assessing underlying performance period-by period.

Restructuring charges of $54 million reflects the impact of actions to simplify technology platforms, business exits and optimising the office space and property footprint.

Charges related to the Fit for Growth programme totalled $138 million in the quarter.

Movements in Debit Valuation Adjustment (DVA) were negative $27million driven by the tightening of Group's asset swap spreads on derivative liability exposures.

Page 09

Financial review continued

Balance sheet and liquidity


	30.09.25 $million	30.06.25 $million	Change¹ %	31.12.24 $million	Change¹ %	30.09.24 $million	Change %
Assets
Loans and advances to banks	45,612	42,386	8	43,593	5	47,512	(4)
Loans and advances to customers	285,127	286,731	(1)	281,032	1	287,257	(1)
Other assets	582,911	584,819	-	525,063	11	537,404	8
Total assets	913,650	913,936	-	849,688	8	872,173	5
Liabilities
Deposits by banks	30,003	30,883	(3)	25,400	18	32,172	(7)
Customer accounts	526,284	517,390	2	464,489	13	478,140	10
Other liabilities	304,143	310,993	(2)	308,515	(1)	309,125	(2)
Total liabilities	860,430	859,266	-	798,404	8	819,437	5
Equity	53,220	54,670	(3)	51,284	4	52,736	1
Total equity and liabilities	913,650	913,936	-	849,688	8	872,173	5

Advances-to-deposits ratio (%)²	50.7	51.0		53.3		52.7
Liquidity coverage ratio (%)	151	146		138		143

1 Variance is increase/(decrease) comparing current reporting period to prior reporting periods

2 The Group excludes $8,956 million held with central banks (30 June 2025: $14,239 million, 31 December 2024: $19,187 million and 30 September 2024: $20,534 million) that has been confirmed as repayable at the point of stress. Advances exclude reverse repurchase agreement and other similar secured lending of $6,162 million (30 June 2025: $4,189 million, 31 December 2024: $9,660 million and 30 September 2024: $8,955 million) and include loans and advances to customers held at fair value through profit or loss of $9,421 million (30 June 2025: $8,119 million, 31 December 2024: $7,084 million and 30 September 2024: $6,093 million). Deposits include customer accounts held at fair value through profit or loss of $24,545 million (30 June 2025: $24,958 million, 31 December 2024: $21,772 million and 30 September 2024: $22,344 million)

The Group's balance sheet remains strong, liquid and well diversified.

Loans and advances to customers decreased by $2 billion or 1 per cent from 30 June 2025. Underlying growth was $2 billion or 1 per cent excluding the $2 billion reduction from Treasury and securities-based held to collect loans and $2 billion impact of decrease from currency translation. The underlying growth is primarily driven by Wealth Lending and Mortgages in WRB. Loans and advances to banks increased 8 per cent since 30 June 2025 driven by higher interbank lending in a few select markets.

Customer accounts of $526 billion increased by $9 billion or 2 per cent from 30 June 2025. Excluding a $2 billion decrease from currency translation, customer accounts increased by $11 billion, or 2 per cent. This was primarily driven by a $ 7 billion increase in WRB CASA and term deposits from affluent focus and targeted campaigns, and a $3 billion increase in corporate term deposits and Treasury management activities.

Other assets decreased $2 billion from 30 June 2025, with a $7 billion increase in cash and balances with Central banks, and a $4 billion increase in investment securities was more than offset by a $6 billion reduction in financial assets held at fair value through profit or loss, primarily debt securities and a $7 billion reduction in derivative financial instruments.

Other liabilities decreased 2 per cent or $7 billion from 30 June 2025, with a $11 billion decrease in derivative balances and a $8 billion reduction in financial liabilities held at fair value through profit and loss was partly offset by an increase of $6 billion in other financial liabilities held at amortised cost and a $5 billion increase in debt securities in issue.

The advances-to-deposits ratio decreased to 50.7 per cent from 51.0 per cent as of 30 June 2025. The point-in-time liquidity coverage ratio increased 5 percentage point in the quarter to 151 per cent and remains well above the minimum regulatory requirement of 100 per cent.

Risk-weighted assets


	30.09.25 $million	30.06.25 $million	Change¹ %	31.12.24 $million	Change¹ %	30.09.24 $million	Change¹ %
By risk type
Credit risk	191,074	191,348	-	189,303	1	188,844	1
Operational risk	32,578	32,578	-	29,479	11	29,479	11
Market risk	34,726	35,758	(3)	28,283	23	30,601	13
Total RWAs	258,378	259,684	(1)	247,065	5	248,924	4

1. Variance is increase/(decrease) comparing current reporting period to prior reporting periods

Page 10

Financial review continued

Total risk-weighted assets of $258.4 billion dropped by $1.3 billion or 1 per cent from 30 June 2025.

• Credit risk RWA at $191.1 billion remained stable since 30 June 2025. There was a $1.9 billion increase from asset growth and mix within primarily in Treasury and a $0.5 billion increase from model and methodology changes. This was partly offset by $1.4 billion reduction in CIB optimisation actions and $1.3 billion decrease from currency translation.

• Market risk RWA decreased by $1.0 billion to $34.7 billion primarily from updates to internal models mainly from risks not in VaR (Value at risk).

Capital base and ratios


	30.09.25 $million	30.06.25 $million	Change¹ %	31.12.24 $million	Change¹ %	30.09.24 $million	Change¹ %
CET1 capital	36,594	37,260	(2)	35,190	4	35,425	3
Additional Tier 1 capital (AT1)	6,515	6,517	-	6,482	1	6,507	-
Tier 1 capital	43,109	43,777	(2)	41,672	3	41,932	3
Tier 2 capital	9,422	9,504	(1)	11,419	(17)	11,726	(20)
Total capital	52,531	53,281	(1)	53,091	(1)	53,658	(2)
CET1 capital ratio(%)²	14.2	14.3	(18)	14.2	(8)	14.2	(7)
Total capital ratio(%)²	20.3	20.5	(19)	21.5	(116)	21.6	(122)
Leverage ratio (%)²	4.6	4.7	(9)	4.8	(20)	4.7	(6)

1 Variance is increase/(decrease) comparing current reporting period to prior reporting periods

2 Change is the basis points (bps) difference between the two periods rather than the percentage change

The Group's CET1 ratio of 14.2 per cent was 18 basis points lower compared to 30 June 2025 primarily reflecting underlying profit accretion, lower RWA and impact of share buyback. CET1 remains 3.9 percentage points above the Group's latest regulatory minimum CET1 requirement. The Group's Pillar 2A reduced in the third quarter post a supervisory review resulting in a 22 basis points reduction in the Group's CET1 requirement.

CET1 accretion from profits was 50 basis points while lower RWA added 3 basis points to the ratio. Changes in FX, fair value gains in other comprehensive income and certain regulatory capital adjustments increased CET1 by a further 9 basis points.

The Group is part way through the $1.3 billion share buyback programme which it announced on 31 July 2025, and by 30 September 2025 had spent $413 million purchasing 22million ordinary shares, reducing the share count by approximately 1 per cent. Even though the share buyback was still ongoing on 30 September 2025, the entire $1.3 billion is deducted from CET1 in the period, equivalent to a 50 basis points reduction in the CET1 ratio.

The Group is accruing the foreseeable dividend in respect of the final 2025 ordinary share dividend in the third quarter. This is not an indication of the Group's final 2025 ordinary share dividend, which will be proposed by the Board at the presentation of the 2025 full year results. The increase in the foreseeable dividend for ordinary dividend and AT1 coupons reduced the CET1 ratio by 30 basis points.

The Group's leverage ratio of 4.6 per cent is 9 basis points lower than as of 30 June 2025. The Group's leverage ratio remains significantly above its minimum requirement of 3.7 per cent.

Page 11

Supplementary financial information

Underlying performance by client segment


	Q3'25					Q3'241
Corporate & Investment Banking $million	Wealth & Retail Banking $million	Ventures $million	Central & other items $million	Total $million	Corporate & Investment Banking $million	Wealth & Retail Banking $million	Ventures $million	Central & other items $million	Total $million
Operating income	2,970	2,252	39	(114)	5,147	2,910	2,096	43	(145)	4,904
External	2,733	1,032	39	1,343	5,147	2,569	914	43	1,378	4,904
Inter-segment	237	1,220	-	(1,457)	-	341	1,182	-	(1,523)	-
Operating expenses	(1,583)	(1,212)	(116)	(42)	(2,953)	(1,512)	(1,168)	(119)	(41)	(2,840)
Operating profit/(loss) before impairment losses and taxation	1,387	1,040	(77)	(156)	2,194	1,398	928	(76)	(186)	2,064
Credit impairment	(64)	(107)	(13)	(11)	(195)	10	(180)	(16)	8	(178)
Other impairment	(4)	(3)	(15)	2	(20)	(49)	(11)	(1)	(31)	(92)
(Loss)/profit from associates and joint ventures	-	-	(9)	15	6	-	-	(5)	18	13
Underlying profit/(loss) before taxation	1,319	930	(114)	(150)	1,985	1,359	737	(98)	(191)	1,807
Restructuring & Other items	(145)	(69)	(1)	(4)	(219)	(36)	(43)	-	(6)	(85)
Reported profit/(loss) before taxation	1,174	861	(115)	(154)	1,766	1,323	694	(98)	(197)	1,722
Total assets	499,829	131,164	7,850	274,807	913,650	479,518	125,912	5,886	260,857	872,173
Of which: loans and advances to customers	202,157	127,423	1,631	16,355	347,566	189,854	122,636	1,231	26,300	340,021
Loans and advances to customers	139,722	127,419	1,631	16,355	285,127	137,098	122,628	1,231	26,300	287,257
Loans held at fair value through profit or loss	62,435	4	-	-	62,439	52,756	8	-	-	52,764
Total liabilities	494,081	250,884	6,122	109,343	860,430	490,017	218,765	4,972	105,683	819,437
Of which: customer accounts2	329,011	246,528	5,798	4,061	585,398	315,749	214,430	4,702	5,140	540,021
Risk-weighted assets	175,434	58,373	3,385	21,186	258,378	163,669	60,534	2,195	22,526	248,924
Income return on risk-weighted assets (%)	6.8	15.6	4.7	(2.1)	8.0	7.1	14.2	7.9	(2.7)	8.0
Underlying return on tangible equity (%)	13.1	35.6	nm	(20.9)	13.4	15.0	24.6	nm	(26.1)	10.8
Cost to income ratio (%)	53.3	53.8	nm	nm	57.4	52.0	55.7	nm	nm	57.9

2 Customer accounts includes FVTPL and repurchase agreements

Page 12

Supplementary financial information continued

Corporate & Investment Banking


	Q3'25 $million	Q3'243,4 $million	Change1 %	Constant currency change1,2 %	Q2'25 $million	Change1 %	Constant currency change1,2 %	YTD'25 $million	YTD'24 $million	Change1 %	Constant currency change1,2 %
Transaction Services	1,488	1,572	(5)	(6)	1,469	1	1	4,484	4,768	(6)	(6)
Payments & Liquidity	1,016	1,112	(9)	(9)	1,013	-	-	3,090	3,412	(9)	(9)
Securities & Prime Services	166	156	6	7	158	5	5	475	450	6	6
Trade & Working Capital	306	304	1	-	298	3	2	919	906	1	2
Global Banking	588	475	24	23	548	7	7	1,684	1,435	17	17
Lending & Financial Solutions	496	407	22	21	476	4	3	1,424	1,243	15	15
Capital Markets & Advisory	92	68	35	33	72	28	29	260	192	35	35
Global Markets	848	840	1	1	1,172	(28)	(28)	3,203	2,677	20	20
Macro Trading	678	683	(1)	(1)	961	(29)	(30)	2,617	2,198	19	19
Credit Trading	206	174	18	18	187	10	10	615	506	22	22
Valuation & Other Adj	(36)	(17)	(112)	(100)	24	nm	nm	(29)	(27)	(7)	(7)
Treasury & Other	46	23	100	96	72	(36)	(39)	182	224	(19)	(17)
Operating income4	2,970	2,910	2	2	3,261	(9)	(9)	9,553	9,104	5	5
Operating expenses	(1,583)	(1,512)	(5)	(4)	(1,602)	1	1	(4,738)	(4,557)	(4)	(3)
Operating profit before impairment losses and taxation	1,387	1,398	(1)	(1)	1,659	(16)	(17)	4,815	4,547	6	7
Credit impairment	(64)	10	nm	nm	44	nm	nm	(50)	64	(178)	(188)
Other impairment	(4)	(49)	92	92	(1)	nm	nm	(4)	(154)	97	97
Profit from associates and joint ventures	-	-	nm	nm	(1)	nm	nm	-	-	nm	nm
Underlying profit before taxation	1,319	1,359	(3)	(3)	1,701	(22)	(23)	4,761	4,457	7	8
Restructuring & Other items	(145)	(36)	nm	nm	(49)	(196)	(188)	(291)	(113)	(158)	(160)
Reported profit before taxation	1,174	1,323	(11)	(11)	1,652	(29)	(30)	4,470	4,344	3	4
Total assets	499,829	479,518	4	5	512,928	(3)	(3)	499,829	479,518	4	5
Of which: loans and advances to customers5	202,157	189,854	6	7	204,812	(1)	(1)	202,157	189,854	6	7
Total liabilities	494,081	490,017	1	1	507,646	(3)	(2)	494,081	490,017	1	1
Of which: customer accounts6	329,011	315,749	4	5	332,952	(1)	(1)	329,011	315,749	4	5
Risk-weighted assets	175,434	163,669	7	nm	182,129	(4)	nm	175,434	163,669	7	nm
Income return on risk-weighted assets (%)7	6.8	7.1	(30)	nm	7.3	(50)	nm	7.3	7.4	(10)	nm
Underlying return on tangible equity (%)7	13.1	15.0	(190)	nm	19.4	(630)	nm	17.4	16.5	90	nm
Cost to income ratio (%)8	53.3	52.0	(1.3)	(1.0)	49.1	(4.2)	(4.5)	49.6	50.1	0.5	0.8

1 Variance is better/(worse), except for risk-weighted assets, assets and liabilities which is increase/(decrease)

2 Comparisons presented on the basis of the current period's transactional currency rate, ensuring like-for-like currency rates between the two periods

3 Segment results have been re-presented in line with the RNS on Re-Presentation of Financial Information issued on 2 April 2025

4 Products have been re-presented in line with the RNS on Re-Presentation of Financial Information issued on 2 April 2025

5 Loans and advances to customers includes FVTPL and reverse repurchase agreements

6 Customer accounts includes FVTPL and repurchase agreements

7 Change is the basis points (bps) difference between the two periods rather than the percentage change

8 Change is the percentage points difference between the two periods rather than the percentage change

Page 13

Supplementary financial information continued

Performance highlights

• Underlying profit before tax of $1,319 million was down 3 per cent year-on-year at constant currency (ccy), mainly due to higher operating expenses and credit impairment partly offset by higher operating income.

• Operating income of $2,970 million was $60 million higher, 2 per cent up at ccy, primarily driven by a record Global Banking performance, up 23 per cent at ccy, due to higher origination and distribution volumes in addition to capturing the rebound in Capital Markets and Advisory activity. Global Markets income increased 1 per cent as strong flow income was partially offset by lower episodic income due to non-repeat of prior year gains in Rates. Transaction Services income fell 6 per cent at ccy as the benefit of increased liability balances was more than offset by margin compression due to lower interest rates impacting Payments & Liquidity while Securities & Prime Services grew 7 per cent benefitting from increased deposit balances.

• Underlying operating expenses rose 4 per cent at ccy, largely due to investments in strategic growth initiatives, higher performance-related pay and deposit insurance premium reclassification.

• Credit impairment charges of $64 million were up $74 million, primarily due to a non-repeat of prior-year releases. Other impairment reduction of $45 million year-on-year due to a non-repeat of software asset write-off.

• Risk-weighted assets (RWA) of $175 billion was up $11 billion year-on-year driven mainly by business growth in Banking and Markets.

Page 14

Supplementary financial information continued

Wealth & Retail Banking


	Q3'25 $million	Q3'243,4 $million	Change1 %	Constant currency change1,2 %	Q2'25 $million	Change1 %	Constant currency change1,2 %	YTD'25 $million	YTD'243,4 $million	Change1 %	Constant currency change1,2 %
Wealth Solutions	890	694	28	27	742	20	20	2,409	1,928	25	25
Investment Products	691	507	36	35	544	27	27	1,794	1,375	30	30
Bancassurance	199	187	6	5	198	1	-	615	553	11	12
Deposits & Mortgages	1,034	1,051	(2)	(1)	990	4	4	3,030	3,112	(3)	(2)
CCPL & Other Unsecured Lending	277	281	(1)	(2)	282	(2)	(3)	816	811	1	1
Treasury & Other	51	70	(27)	(29)	38	34	35	159	129	23	23
Operating income4	2,252	2,096	7	7	2,052	10	9	6,414	5,980	7	7
Operating expenses	(1,212)	(1,168)	(4)	(5)	(1,248)	3	3	(3,641)	(3,422)	(6)	(6)
Operating profit before impairment losses and taxation	1,040	928	12	10	804	29	29	2,773	2,558	8	9
Credit impairment	(107)	(180)	41	41	(153)	30	31	(439)	(447)	2	1
Other impairment	(3)	(11)	73	67	1	nm	nm	(6)	(38)	84	86
Underlying profit before taxation	930	737	26	23	652	43	43	2,328	2,073	12	13
Restructuring & Other Items	(69)	(43)	(60)	(66)	(55)	(25)	(24)	(199)	(238)	16	14
Reported profit before taxation	861	694	24	21	597	44	44	2,129	1,835	16	17
Total assets	131,164	125,912	4	5	129,591	1	2	131,164	125,912	4	5
Of which: loans and advances to customers5	127,423	122,636	4	5	126,712	1	2	127,423	122,636	4	5
Total liabilities	250,884	218,765	15	16	244,591	3	3	250,884	218,765	15	16
Of which: customer accounts6	246,528	214,430	15	16	240,612	2	3	246,528	214,430	15	16
Risk-weighted assets	58,373	60,534	(4)	nm	57,610	1	nm	58,373	60,534	(4)	nm
Income return on risk-weighted assets (%)7	15.6	14.2	140	nm	14.7	90	nm	15.1	13.5	160	nm
Underlying return on tangible equity (%)7	35.6	24.6	1,100	nm	24.0	1,160	nm	28.7	22.9	580	nm
Cost to income ratio (%)8	53.8	55.7	1.9	1.3	60.8	7.0	7.1	56.8	57.2	0.4	0.7